The Federal Government has set an ambitious target to raise manufacturing’s contribution to Nigeria’s economy to between 20% and 25% by 2030, with the imminent launch of the Nigerian Industrial Policy. This comes as current data shows the sector still has a long way to go despite expectations of modest improvement in the near term.
In the early 1990s, manufacturing contributed over 20% of GDP, but this figure has steadily declined to less than 9% in 2024, highlighting deep structural weaknesses. In the first nine months of 2025, the sector averaged only 8.35% contribution to GDP. Data from the National Bureau of Statistics shows that manufacturing has largely remained stuck within the 8–9% 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) projects that manufacturing will contribute about 10.2% of real GDP in 2026, indicating that while progress may occur, reaching 25% will require significant structural transformation.
