Manufacturers across Nigeria have expressed frustration that despite ongoing economic reforms, the industrial sector continues to grapple with crippling energy costs, limited access to credit accentuated by rising interest rates and limited long-term finance, infrastructure gaps particularly in logistics and transportation among other pain points of operators.
They amplified their challenges through the Manufacturers Association of Nigeria (MAN), noting that these challenges are eroding competitiveness.
They called on the government to align its policies more deliberately with the “Nigeria First” economic agenda to protect local industries and spur sustainable growth.
Manufacturers in Nigeria operate under a tough business environment, being challenged by energy costs that remain astronomically high. The MAN president, Francis Meshioye, reiterated the call at the opening ceremony of the MAN 53rd Annual General Meeting (AGM) in Lagos, citing the National Bureau of Statistics (NBS) manufacturing share of GDP which declined from 27.6 percent in the 2010 base year to 21 percent in the rebased structure.
Meshioye noted that the sector’s average five-year performance remains negative at -0.76 percent between 2019 and 2024, while sectors like services and agriculture expanded.
