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Benjamin Onigninde, the CEO of Sigvent Industrial Cluster Limited, has commended the Federal Government of Nigeria for the launch of the New Nigeria Industrial Plan (NNIP), describing it as a bold and timely policy framework that will fast-track industrial cluster development across the country.
The Nigeria Industrial Plan sets ambitious targets to grow manufacturing contribution to 15% of GDP by 2030 and 25% by 2035. It commits 5% of GDP annually to industrial financing and recapitalizes the Bank of Industry to N3 Trillion by 2026.
“The NNIP’s focus on Industrial Clusters, Value-Chain Deepening and Backward
Integration is exactly what Sigvent Industrial Cluster was designed to deliver,” Benjamin Onigninde stated.
“Sigvent Industrial Cluster is not just a project. It is a pilot implementation of the NNIP,
connecting farmers to factories, and factories to global markets.”
In a statement signed by the Chief Executive Officer, Benjamin Onigninde, SIGVENT noted that the NNIP aligns perfectly with President Tinubu’s Renewed Hope Agenda and provides the strategic direction needed to move Nigeria from import-dependent to export-driven industrialization.
“The New Nigeria Industrial Plan is exactly what the sector has been waiting for,” Benjamin Onigninde stated
“By prioritizing value chain development, backward integration, and industrial clusters, the Federal Government has laid the foundation for factories to access local raw materials, for farmers to access guaranteed markets, and for jobs to be created at scale.”
SIGVENT highlighted that industrial clusters remain the fastest pathway to reducing production costs, improving quality, and making Nigerian products globally competitive. The company cited Sigvent Industrial Cluster project in Ogbomoso as a model of the Nigeria Industrial Plan in action.
At Sigvent Industrial Cluster, we are already implementing the Nigeria Industrial Plan,
We are connecting 50 enterprises and associates institutions, over 200 Verified Co-operatives directly to off-takers. This is cluster development working in real-time,” he added.
SIGVENT further urged the Federal Government, through the Federal Ministry of Industry, Trade and Investment, to prioritize three key areas for immediate impact:
1. Infrastructure: Power, roads and storage facilities in and around clusters
2. Finance: Single-digit, long-term funding for cluster anchor companies and co-operatives
3. Policy: Harmonization of standards and incentives to attract private sector investment into clusters
“With the Nigeria Industrial Plan, Nigeria can achieve food security, Foreign Exchange savings, and 10 million jobs.
“SIGVENT is committed to partnering with the Federal Government to build 10 industrial clusters across Nigeria in the next four years,” the statement concluded.
He also commended the Minister of Industry, Trade and Investment , Dr. Jumoke Oduwole for recognizing “the “Plan Sigvent Industrial Cluster has the potential to become one of the biggest in Africa.”
SIGVENT Industrial Cluster Limited is an Agro-Industrial development company focused on building market-linked clusters that connect smallholder farmers to processors, off-takers, finance, and export markets.
