National Chairman, Commerce and Industry Correspondents Association of Nigeria (CICAN), Charles Okonji, called for urgent strategic action to revive Nigeria’s manufacturing sector, citing fragile growth, infrastructure gaps, and policy inconsistencies as key barriers to industrial progress and economic diversification.
Speaking at the 2025 End-of-Year Engagement Forum of CICAN, held on December 4 at MAN’s House, Ikeja, Lagos, Okonji, highlighted the urgent need for strategic action to strengthen Nigeria’s manufacturing sector.
Okonji emphasized that while Nigeria’s economy grew by 3.98 percent year-on-year in the third quarter of 2025, largely driven by non-oil sectors such as services and agriculture, the manufacturing sector—long considered the backbone of industrial growth—remains fragile.
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“Manufacturing contributed only 9.62 percent to GDP in Q1 2025, reflecting a worrying decline over the past five years.
“Many in the sector point to persistent constraints including unreliable power supply, inadequate infrastructure, poor logistics, limited access to credit, and unstable foreign exchange conditions,” Okonji said.
“These challenges have weakened manufacturers’ capacity to invest, expand, or even sustain operations, leading to diminished output, reduced job creation, and a shrinking productive base.”
Okonji outlined key priorities for the sector’s revival which includes; reliable roads, transport networks, storage facilities, and affordable energy are essential for industrial competitiveness.
“Support for local manufacturing, full implementation of local-content policies, and incentives for “Made in Nigeria” goods are critical. Affordable credit and predictable foreign-exchange conditions are needed to restore investor confidence.
Both government and private sector must prioritize industrial empowerment as a driver of jobs, wealth creation, export earnings, and economic diversification.
Addressing the media, Okonji called on journalists to leverage their platforms to hold stakeholders accountable, highlight both challenges and opportunities, and advocate for policies that will revitalize Nigeria’s manufacturing heartland.
The forum set the stage for candid discussions and actionable proposals aimed at achieving genuine industrial rebirth and shared prosperity in 2026 and beyond.
