The Federal Government has unveiled plans to significantly boost manufacturing’s role in Nigeria’s economy, targeting a contribution of between 20 and 25 per cent to GDP by 2030 through the forthcoming Nigerian Industrial Policy. The goal underscores renewed efforts to reposition the sector, which has shown only modest signs of improvement in recent years.
Manufacturing once accounted for over 20 per cent of GDP in the early 1990s but has since suffered a prolonged decline, falling to less than 9 per cent in 2024 due to persistent structural challenges. In the first nine months of 2025, the sector contributed an average of 8.35 per cent to GDP, with National Bureau of Statistics data indicating it has remained largely stagnant within the 8–9 per cent range in recent years.
Speaking at the policy’s soft launch, Minister of State for Industry, John Enoh, said the initiative aims to strengthen local production, promote backward integration, improve access to affordable financing, and foster stronger linkages between small and large enterprises. He emphasized that reforms in power supply, industrial infrastructure, and financing are key to achieving the target.
Meanwhile, the Manufacturers Association of Nigeria (MAN) forecasts that manufacturing’s share of real GDP will rise to about 10.2 per cent in 2026, suggesting that although some progress is expected, achieving the 25 per cent target will demand far-reaching structural reforms across the sector.
