Nigeria has abundant oil and gas resources, but revenues from oil exports have led the country to neglect other industries like manufacturing. The textile industry declined sharply from the 1980s, with the number of textile companies falling from around 180 to almost zero. Recently, the Nigerian government has launched ambitious plans to diversify its economy away from oil and boost industrialization. This includes the Nigeria Industrial Revolution Plan to develop industries like food processing, metals, and construction, as well as incentives like tax concessions for businesses. The government aims to increase manufacturing's contribution to GDP from 4% to over 10% in the next five years. Several global companies have announced large investments in Nigeria's industrial sector in response to the new plans.