The House of Representatives has called on the Federal Government to set aside ₦350 million in the 2026 national budget for the revival of moribund industries across Nigeria.
This followed the adoption of a motion sponsored by Akarachi Amadi, who represents Mbaitoli/Ikeduru Federal Constituency in Imo State.
Amadi expressed concern that the collapse of many local industries has worsened unemployment and insecurity across the country. Citing data from the National Bureau of Statistics (NBS), he noted that Nigeria’s unemployment rate has surged from 25% in 2022 to over 40% in 2025, largely due to factory shutdowns and prolonged inactivity in the manufacturing sector.
He explained that unstable power supply, high-interest rates, and weak infrastructure have forced once-thriving factories to close, increasing dependence on imported goods and putting pressure on the foreign exchange market.
“The moribund state of local industries has contributed to rising insecurity, kidnapping, and other crimes,” Amadi said.
“Industries that previously employed thousands are now abandoned, forcing companies to relocate to neighbouring countries like Ghana.”
The lawmaker listed several inactive factories across the six geopolitical zones, including:
- Katsina Steel Rolling Mill (Katsina State)
- National Paper Manufacturing Company Ltd (Ogun State)
- Standard Shoe Industry Limited (Imo State)
- Taraba Tomato Processing Company (Taraba State)
- Idah Glass Company (Kogi State)
- Cross River Wood Processing Plant (Cross River State)
He further mentioned other key industries that could be revived, such as the Oshogbo Steel Rolling Mill, Oshogbo Machine Tools, and the Ceramic Industry in Umuahia, Abia State.
Amadi emphasized that restoring these industries would boost employment, reduce foreign exchange demand, and move Nigeria from a consumption-driven economy to a productive one.
Following deliberation, the House:
- Urged the Federal Ministry of Industry, Trade and Investment to include ₦350 million in the 2026 budget to begin the revival of these industries.
- Directed the Ministry’s Industrial Inspectorate Department to develop a detailed resuscitation plan for ailing factories nationwide.
- Mandated the Committees on Industry and Legislative Compliance to ensure implementation and report back within four weeks.
