The federal government has identified excessive dependence on social media as one of the challenges hindering Nigeria?s economic growth, warning that it distorts perceptions of the country?s development journey.

Minister of Budget and Economic Planning, Senator Abubakar Bagudu, raised the concern at the weekend when he received a delegation from the United Nations Industrial Development Organisation (UNIDO), led by its Representative and Regional Director, Mr. Philbert Johnson, in Abuja.

Bagudu said social media had placed Nigeria side by side with advanced economies without interrogating the different stages of development, thereby shaping unrealistic public expectations. ?We must raise awareness to help Nigerians understand the dynamics of production and the role of subsidies in developed countries, to set the record straight,? he said.

The minister urged stakeholders across all sectors to contribute actively to the formulation of the next National Development Plan (NDP 2026?2030), which is currently under review as the existing NDP 2021?2025 expires in December 2025.

According to Bagudu, the new plan would prioritise industrialisation as a critical driver of growth. ?Your visit comes at a crucial moment as Nigeria concludes the 2021?2025 National Development Plan and works on a successor plan,? he told the UNIDO delegation. ?Industrialisation remains a central pillar of this process because it offers the pathway to higher-quality jobs, inclusive prosperity, and stronger global competitiveness.?

He explained that systemic barriers in the global economy have made industrialisation a major challenge for developing nations, despite their vast potential.

?The reality today is that industrial development is not always driven by competitiveness, but by countries with stronger economic muscle using their advantages to crowd out others. This creates a distorted playing field where even basic industrial activity becomes a struggle for African economies,? Bagudu said.

The minister called on UNIDO to support Nigeria in finding innovative ways to navigate these obstacles.

?We need partners who can help us think creatively, who can articulate pathways that compensate for the disadvantages imposed by the current order. We believe that Nigeria, with its large population and vibrant economy, can highlight issues that matter not only to us but also to smaller African nations. But we cannot do this alone,? he stated.

Bagudu also pointed to shifting trade policies, growing protectionism in advanced economies, and rising geopolitical tensions as additional hurdles to industrial development. ?We find ourselves in a time when the principles that once upheld fairness are being eroded. Countries that should be champions of equity are instead adopting policies that hinder the growth of developing nations. Yet we cannot afford to abandon industrialisation. We must find a way forward,? he added.

In response, UNIDO Regional Director Philbert Johnson commended Nigeria?s efforts and stressed the importance of the country?s partnership with the organisation. He noted that the UNIDO Director-General had signed the Programme for Country Partnership (PCP) with Nigeria six months earlier, describing it as a milestone in strengthening collaboration.

?We profoundly appreciate your unwavering support in transforming the Country Programme into a PCP. Nigeria remains a vital partner for UNIDO, not only because of its size and influence in Africa but also due to your ministry?s central role in planning, donor coordination, and data management,? Johnson said.

He added that the next step in operationalising the PCP would be the creation of a National Coordinating Body (NCB) to set Nigeria?s priorities and guide implementation. ?We are eager to begin implementation, but the ownership of this process lies with Nigerian authorities. Until the NCB is in place, our ability to deploy resources is limited. We are therefore working Closely with your ministry and the Ministry of Industry to fast-track this process,? he explained.

Johnson also outlined UNIDO?s ongoing work in Nigeria, including support for renewable energy projects, circular economy initiatives, and small-scale industrial ventures.

Bagudu, in his closing remarks, expressed appreciation to UNIDO for its enduring collaboration and restated Nigeria?s commitment to pursuing inclusive industrialisation. ?We recognise that these are systemic issues, but we believe that with your equitable guidance and support, we can develop an industrial strategy that benefits Nigeria and inspires the continent,? he said. (The Nation)

Update news