NEF President Calls for Investment, National Bamboo Policy to Drive Economic Diversification

The President of the Nigeria Entrepreneurs Forum (NEF), Dr. Sidney Inegbedion, has called for the development of a comprehensive National Bamboo Policy to support economic diversification and accelerate Nigeria’s economic development.
Dr. Inegbedion made the call in Abuja while delivering a keynote address at a one-day National Workshop on Developing a National Bamboo Policy for Nigeria.

The workshop was organised by the Federal Ministry of Budget and Economic Planning in collaboration with the Nigeria Entrepreneurs Forum and the National Bamboo Farmers, Processors and Marketers Association of Nigeria.
Describing bamboo as a viable agricultural commodity with immense economic potential, the NEF President said the Forum would continue to lead efforts at identifying strategic products whose potentials could be effectively harnessed for national economic development.
He stated that the Nigeria Entrepreneurs Forum is a private-sector-led economic development organisation committed to promoting enterprise growth and sustainability as the foundation for job creation, wealth generation and broad-based economic development in Nigeria, with strong support from public institutions, international agencies and partner governments.
Dr. Inegbedion described the workshop as timely and long overdue, commending the organisers for initiating the policy dialogue. He expressed appreciation to the Permanent Secretary of the Federal Ministry of Budget and Economic Planning and the Director of the Economic Growth Department for approving the workshop and providing leadership in advancing the policy initiative. According to him, their stewardship reaffirmed the Ministry’s central role in shaping Nigeria’s long-term economic transformation, green industrialisation and sustainable development agenda.
He also acknowledged the strategic partnership with the China National Bamboo Research Centre (CNBRC), Hangzhou, Zhejiang Province, and the Embassy of the People’s Republic of China in Nigeria, describing their participation as a strong demonstration of international cooperation, shared vision and South-South collaboration. He further commended the National Bamboo Farmers, Processors and Marketers Association of Nigeria (NBFPMAN) for its grassroots commitment to unlocking bamboo’s potential as a national economic asset, as well as the technical support of the West Africa Regional Director of the International Bamboo and Rattan Organisation (INBAR), Accra, Ghana.
According to Dr. Inegbedion, bamboo is no longer a peripheral resource, but a fast-growing, renewable and high-value strategic material with applications across construction, energy, textiles, pharmaceuticals, cosmetics, furniture, packaging and climate adaptation solutions.
He noted that Nigeria possesses one of Africa’s largest yet underutilised bamboo reserves, but the absence of a coordinated national policy has resulted in fragmented efforts, limited private-sector investment and missed opportunities in the global bamboo economy.
Citing global figures, he said the bamboo market was valued at USD 68.8 billion in 2018 and grew to USD 98.3 billion by the end of 2025, with a compound annual growth rate of 5.2 per cent. He explained that this growth was driven by bamboo’s versatility across multiple industries, including construction materials, engineered wood products, furniture, textiles, packaging, bio-energy, pharmaceuticals, cosmetics and food products.
For Nigeria, he said bamboo offers a clear pathway to fast-track diversification away from oil dependence by creating millions of jobs, stimulating small and medium enterprises, driving import substitution, unlocking export opportunities under the AfCFTA and ECOWAS frameworks, attracting foreign and domestic investment, strengthening rural economies and reducing urban migration.
Dr. Inegbedion stressed that with the right policy framework, investment and private-sector participation, bamboo could become a major driver of non-oil growth, industrialisation and inclusive development, while also contributing to climate resilience through carbon sequestration and soil stabilisation.
He explained that adopting elements of the China model was deliberate, noting that China remains the world’s most successful example of transforming bamboo into an industrialised, export-driven sector through clear policies, strong institutions, research, technology transfer and private-sector participation. Through NEF’s cooperation agreement with CNBRC, he said Nigeria has an opportunity to learn from proven policy frameworks, access technical expertise, adopt tested technologies, reduce policy development costs and accelerate implementation.
He described the leadership role of the Federal Ministry of Budget and Economic Planning as strategic, noting that the Ministry is well positioned to align bamboo development with national plans, integrate it into green industrialisation strategies, harmonise the roles of relevant MDAs and create a unified framework for sector growth.
According to him, a National Bamboo Policy would unlock opportunities in manufacturing, exports, SME development, green jobs and climate-smart innovation, while supporting Nigeria’s commitments under the Nationally Determined Contributions, AFR100 Initiative and the Great Green Wall.
He said the workshop marked a critical starting point, with deliberations expected to review and adopt a draft roadmap for the National Bamboo Development Policy, with the aim of producing a validated draft policy for submission to the Federal Executive Council by June 2026.
In closing, Dr. Inegbedion appealed to Chinese partners, CNBRC and relevant agencies through the Chinese Embassy in Nigeria for financial and technical support under the Forum on China-Africa Cooperation, as well as continued support from INBAR and ECOWAS. He emphasised the need to extend engagement to states and local governments to ensure inclusive and effective implementation.
He reaffirmed NEF’s commitment to working with the Federal Ministry of Budget and Economic Planning, CNBRC, development partners and the private sector to position bamboo as a pillar of Nigeria’s green and diversified economy.
Earlier, the Permanent Secretary of the Ministry of Budget and Economic Planning, Dr. Deborah Odoh, represented by a Director in the Ministry, Mr. Awwal Mohammed, commended NEF and the National Bamboo Farmers, Processors and Marketers Association of Nigeria for organising the workshop. She said the outcome would support the Federal Government’s drive for a green economy and economic diversification, and called for stakeholder support to harness the sector’s potential.
In separate goodwill messages, representatives of the Ministries of Industry, Trade and Investment; Agriculture and Food Security; Environment; Arts, Culture and Creative Economy; and other stakeholders pledged their support for the development of a National Bamboo Policy to boost Nigeria’s economy.
The highlight of the workshop was the inauguration of a Technical Working Group for the development of a National Bamboo Policy for Nigeria.