Tinubu Sets Ambitious Manufacturing GDP Target for 2030

Nigeria's manufacturing sector's contribution to the economy has decreased to 7.72% of GDP, despite recording its strongest growth in four years, with a 3.29% increase in the first quarter and 3.24% in the second quarter of 2026. President Bola Tinubu announced this decline during the 6th Adeola Odutola Lecture and the 54th Annual General Meeting of the Manufacturers Association of Nigeria (MAN) in Lagos.

He emphasized the need to reposition manufacturing as a key driver of Nigeria's economic transformation, aiming to increase its GDP contribution to between 20% and 25% by 2030. The president noted that the sector's contribution had fallen from over 20% in the early 1990s and highlighted challenges such as unsold manufactured goods worth nearly N2 trillion.

To support this goal, the government plans to channel up to 5% of GDP into industrial financing and has established the Industrial Revolution Working Group to focus on measurable outcomes in manufacturing.