By Frontline Reporters

The Nigeria Economic Summit Group (NESG) has raised concerns over the growing burden of high production costs, unreliable electricity supply and inadequate logistics infrastructure on Nigeria’s industrial competitiveness, urging the Federal Government to establish a dedicated industrialisation council within the Presidency to coordinate policies and accelerate industrial development.

The NESG Co-Facilitator, Lumun Feese, said Nigeria urgently needed a coordinated and sustained approach to industrialisation to address longstanding structural challenges, strengthen local manufacturing and enable Nigerian businesses to compete effectively across African markets.

Feese made the call during a breakout session on building an integrated industrial ecosystem at the 32nd Nigeria Economic Summit held on Tuesday in Abuja.

She disclosed that Nigeria had slipped from eighth to 14th position on the African Development Bank’s Africa Industrialisation Index, although she acknowledged that the latest ranking reflected changes in the assessment methodology and the inclusion of additional countries.

Expressing concern over the country’s inability to maximise its economic potential, Feese stressed that the high cost of doing business continued to place Nigerian manufacturers at a disadvantage against their counterparts in other African economies.

“We are not maximising our potential and our large economy.

“How do we go and compete in South Africa when our cost of production is so high? Power, logistics and so on and so forth,” she said.

She argued that Nigeria must look beyond its large domestic market and deliberately build the productive capacity required to supply goods and services to other African countries.

To address the challenges, Feese advocated the establishment of an Industrialisation, Competitiveness and Regional Integration Council within the Presidency to serve as a central coordinating platform for government policies and programmes.

According to her, the proposed council would harmonise industrial development initiatives, strengthen implementation of the National Industrial Policy and deepen private-sector participation in the country’s industrialisation drive.

She emphasised that Nigerian businesses required reliable electricity, efficient transportation and logistics networks, as well as reduced production costs to take full advantage of the opportunities presented by the African Continental Free Trade Area (AfCFTA).

Feese noted that AfCFTA offered Nigerian manufacturers access to a broader continental market, but warned that the country could only benefit meaningfully if its industries became sufficiently competitive in terms of production costs, quality and operational efficiency.

She explained that the recommendations emerged from extensive consultations covering critical sectors of the economy, including mining, the blue economy, power, oil and gas, and industrial competitiveness.

Feese urged businesses and other stakeholders to sustain their engagement with the NESG’s Industrial Policy Commission, stressing that effective coordination, policy consistency and disciplined implementation were essential to achieving sustainable industrial growth.

She maintained that addressing structural constraints to production would not only strengthen domestic manufacturing but also position Nigeria to expand its export capacity, attract investment, create jobs and play a more influential role in Africa’s industrial and economic integration.

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