Nigerian Manufacturers Face ₦2.12 Trillion in Unsold Goods

According to data from the Manufacturers Association of Nigeria (MAN), Nigerian manufacturers had approximately ₦2.12 trillion worth of unsold finished goods as of September 21, 2026. This situation is attributed to weaker consumer spending and reduced purchasing power among Nigerians.

In 2025, manufacturers invested a record ₦4.54 trillion, a 59 percent increase from ₦2.85 trillion in 2024. However, this increase in investment did not correspond with a rise in consumer purchases.

Significant investments included ₦2.47 trillion in plants and machinery, with the food, beverage, and tobacco sector receiving the largest share of about ₦1.30 trillion. The report indicates that nominal investment figures do not reflect the real investment adjusted for inflation, which was about ₦1.33 trillion in 2025.

The challenges faced by manufacturers underscore the importance of consumer demand and a favorable economic environment for sales, as unsold goods can hinder recovery of production costs and future investments.