Policy formulation and business experts have thoroughly examined the newly unveiled Nigeria Industrial Policy (NIP) 2025 and its associated regulatory drawbacks, emphasizing the necessity for coordinated efforts to achieve successful implementation.
UUBO Policy Breakfast Session
They scrutinized the document during the Policy Breakfast Session organized by the Udo Udoma & Belo-Osagie (UUBO) law firm, which was themed 'Translating Nigeria's new industrial policy into productivity: Navigating legal & regulatory bottlenecks.' Participants at the event also engaged in deeper discussions on how organizations can navigate roadmaps and capture incentives effectively.
Key Remarks from Managing Partner
In her welcome remarks, Managing Partner at UUBO, Jumoke Lambo, stated that the subject of legal and regulatory bottlenecks and their potential impact on NIP influences project financing decisions, procurement negotiations, and other boardroom conversations. According to her, the real test lies not only in the design but also in the implementation. 'The effectiveness of the policy will depend on how it is translated into practical outcomes within the constraints of the legal and regulatory environments,' she said.
Lagos State Commissioner's Insights
Lagos State Commissioner for Commerce, Cooperatives, Trade & Investment, Folashade Ambrose-Medebem, noted that industrialization drives productivity, creates jobs, expands exports, deepens value chains, and strengthens innovation. She added that no economy achieves sustainable prosperity without industrial growth, and long-term national resilience is also built on industrialization. Ambrose-Medebem further disclosed that Lagos launched its own Lagos State Industrial Policy (LSIP) in response to the nation's NIP agenda. She highlighted LSIP's six strategic pillars: building a competitive and productive industrial base, infrastructural development, advancing regulatory reforms and ease of doing business, access to affordable finance, skills development and workforce readiness, and promotion of innovation, technology adoption, sustainability, and industrial growth.
Review of Nigeria's Policy Landscape
Reviewing Nigeria's 2026 policy landscape and what to expect, Godson Ogheneochuko, a partner at the firm, urged Micro, Medium, and Small Enterprises (MSMEs) to target sectors and operations that attract incentives and other fiscal measures, explore collaborations to secure a 'seat-at-the-table,' keep an eye on backward integration measures, and escalate constraints to funding access, especially in view of the ongoing Bank of Industry recapitalization. He also shared key policy developments since January 2026, such as the implementation of the new tax bills, ban on sachet alcohol, security and public safety measures, and electricity reforms, among others.
Panel Discussion and Inauguration
There was also a panel that explored the theme, featuring panellists including Chief Executive Officer of Construction Kaiser Limited, Sefan Euchenhofer; President & Chairman of Council of the Lagos Chamber of Commerce & Industry (LCCI), Leye Kupoluyi; and Partner at UUBO, Lolade Ososami. The Government Relations and Public Practice (GRPP) group was formally inaugurated to serve as an advocacy bridge between policy formulators and the public. Another partner at UUBO, Amina Ibrahim, insisted that proactive government relations is not just relevant but indispensable to industrial competitiveness. On his part, Assistant Comptroller of the Nigeria Customs Service, Mohammed Mukhtar, argued that the role of the Customs in the country's quest to achieve industrialization cannot be overemphasized.
