Our policy objectives with regards to the manufacturing sector are to:

a. Achieve a sustained increase in manufacturing output. By 2025, the manufacturing sector's output shall be expanded from 9% to 30% of GDP.

b. Gradually reduce the sector's dependence on imported raw materials as input into the production process. Looking inwards will promote value addition, generate more jobs, reduce demand for foreign exchange and generally promote sustainable development.

c. Achieve a diversified production structure with more processing of domestic raw materials, a select list of light, intermediate and heavy goods industries and a substantial complement of manufactured exports.

d. Promote the competitiveness of the sector nationally and internationally.

To support the manufacturing sector, we shall:

a. Improve on our level of engagement with the private sector and ensure that all major economic and investment policies are formulated after sufficient prior consultation with the organized private sector.

b. Undertake a comprehensive review, in consultation with the organized private sector, of the operation of the major 'high profile' investment incentives to assess their accessibility by eligible firms and their efficacy. These include the Export Expansion Grant, Duty Draw Back, Manufacturing-in-Bond Schemes, Pioneer Tax Status and other tax incentives that are targeted at the medium and large corporations.

c. Work with the Manufacturers Association of Nigeria (MAN), chambers of commerce and other relevant stakeholders to identify ways to reduce the cost of borrowing, tackle incidences of multiple taxation and improve availability of foreign exchange for legitimate production input purchases.

d. Identify the need for i n t r o d u c t i o n a n d implementation of a new incentive regime in line with our new development aspirations including the review of import duty on raw materials that are available in the country and on imported machiner y for local production. 

e. Simplify personal and corporate tax filings and create a transparent corporate tax register.

f. Support and vigorously enforce the buy-made-in-Nigeria initiative by ensuring compliance with the relevant executive order by Federal Government procurement agencies. 

g. Deliver on our pledges to create a hospitable investment climate, including stability in the macro-economic environment and delivery of world class infrastructure and policy coherence and consistency.