FG Has Halted Industry Closures in Nigeria – Minister John Enoh

Nigeria’s Minister of State for Industry, John Enoh, has said that the Bola Tinubu administration’s policies have successfully addressed the major issues responsible for the shutdown and relocation of industries in the country.

Speaking on Thursday as part of events marking the second anniversary of the Tinubu administration, Enoh highlighted improvements in power supply, infrastructure, access to finance, bureaucratic processes, and the overall ease of doing business as key achievements that have restored investor confidence.

“All those challenges and problems were the reasons why industries closed shops and left,” Enoh said. “We had a thematic area on power, infrastructure, affordable short-term finance, bureaucratic bottlenecks, and ease of doing business — all of these things we are tackling.”

He added that these reforms have not only stopped the exodus of industries but have also created an environment for renewed industrial growth.

“The kind of confidence that this government has brought in itself has stopped the closure of industries,” Enoh said. “It has given more confidence for further industrial growth and we’re doing more to restore that confidence.”

The minister also explained the strategic importance President Tinubu places on industrial growth, noting that this was why he was appointed specifically to oversee the industrial sector rather than placing it under a broader trade portfolio.

Enoh asserted that since the beginning of the administration, there have been no new reports of industries shutting down or exiting the Nigerian market, and the government is intensifying efforts to ensure businesses are better protected.