Nigeria's Manufacturing Sector in Crisis: Declining Output and Job Losses Threaten Economic Independence

Nigeria's manufacturing sector is in dire straits, experiencing a steady decline in output and capacity utilization, leading to factory closures and job losses. The sector is grappling with macroeconomic and infrastructure challenges, high inflation, currency depreciation, and rising interest rates.

The Manufacturing Association of Nigeria (MAN) reports a significant drop in the sector's contribution to GDP, exacerbating poverty and economic vulnerability. The human toll is evident with thousands of job losses and unsold goods worth billions stacking up in warehouses across the country.