MAN raises alarm over Nigeria’s shrinking Industrial base

The President of the Manufacturers Association of Nigeria (MAN), Francis Meshioye, has warned that Nigeria’s industrial sector is shrinking fast, calling it a serious problem for the country’s economy.

Citing data from the National Bureau of Statistics (NBS), Meshioye said the industry’s share of the nation’s Gross Domestic Product (GDP) dropped from 27.65% in 2010 to 21.08% in 2019.

He added that the manufacturing sector recorded an average decline of –0.76% between 2019 and 2024, while sectors like services and agriculture continued to grow.

According to him, the figures show a worrisome move from production to consumption and services, warning that such a trend is unsustainable for long-term growth.

Speaking at the Made in Nigeria Exhibition (MiNE), part of MAN’s 53rd Annual General Meeting (AGM) with the theme “Nigeria First: Prioritising Patronage of Made-in-Nigeria,” Meshioye said that despite harsh operating conditions, Nigerian manufacturers have remained committed, producing quality and competitive goods.

Also speaking at the event, Philbert Abaka Johnson, the United Nations Industrial Development Organisation (UNIDO) representative in Nigeria and ECOWAS, praised the theme as timely and in line with global efforts to promote sustainable industrialisation.

He stressed that the “Nigeria First” policy should go beyond patriotic talk, urging the government, private sector, and citizens to take real and coordinated actions to support local industries.
Johnson noted that a strong manufacturing sector is vital for sustainable development.

He called for urgent and well-coordinated efforts in key areas such as infrastructure, energy, access to finance, technology, market access, and trade facilitation to revive Nigeria’s industrial base.