REIMAGINING NIGERIA’S PRODUCTIVE ECONOMY: A POLICY REVIEW OF INDUSTRIALIZATION, AGRICULTURAL TRANSFORMATION, AND INNOVATION PATHWAYS
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Structural imbalances, overreliance on crude oil, and underperformance in key productive sectors have long hindered Nigeria’s economic development. This review critically examines Nigeria’s efforts to transform its economy through industrialization, agricultural development, and innovation-driven growth. Drawing on historical analysis and policy evaluations, the study assesses the effectiveness of key national frameworks, including the Nigeria Industrial Revolution Plan, Agricultural Transformation Agenda, Anchor Borrowers’ Programme, and the Nigeria Startup Act. It also situates Nigeria’s potential within the context of the African Continental Free Trade Area (AfCFTA). It highlights cross-cutting enablers such as infrastructure, access to finance, regulatory quality, and human capital development. The review finds that while targeted interventions have yielded localized successes, particularly in agritech, fintech, and input distribution, implementation inconsistencies, weak institutional coordination, and systemic capacity constraints have limited their broader impact. Nigeria’s digital economy shows significant promise, yet its growth is uneven and often disconnected from traditional sectors. The paper recommends a more coherent and inclusive approach to economic transformation, emphasizing sectoral linkages, youth and gender inclusion, scalable innovation ecosystems, and regional trade integration. With the right policy mix and disciplined implementation, Nigeria can harness its demographic advantage, diversify its economic base, and reposition itself as a productive hub in Africa. The findings offer actionable insights for policymakers, development practitioners, and stakeholders committed to reimagining Nigeria’s economic future.
| Pages | 17-27 |
| Year | 2025 |
| Issue | 1 |
| Volume | 5 |
