CPPE Advocates for Cost Reduction in Nigeria's Industry

The Centre for the Promotion of Private Enterprise (CPPE) has asserted that Nigeria's industrial policy must focus on reducing the structural cost of doing business and ensuring export competitiveness. Dr.

Muda Yusuf, CEO of CPPE, presented these views in a paper titled “Industrial Policy, Manufacturing Competitiveness and the Future of Nigeria’s Production Economy” during the Lagos Chamber of Commerce and Industry (LCCI) mid-year economic review. He outlined five key pillars essential for Nigeria to become a leading industrial economy in Africa: competitive production costs, productivity and innovation, competitive value chain, export competitiveness, and supportive institutions.

Yusuf emphasized that industrial competitiveness hinges on the economics of production, stating that reliable electricity, lower logistics costs, and affordable finance are crucial. He argued that reducing structural costs should be the primary objective of industrial policy, as successful manufacturing economies thrive not merely due to cheap labor but because of favorable production economics.