The National Chairman of the Commerce and Industry Correspondents Association of Nigeria (CICAN), Mr. Charles Okonji, has urged swift and strategic intervention to revive Nigeria’s struggling manufacturing sector, warning that the country cannot achieve true economic diversification without a strong industrial base.
He made the call at the 2025 End-of-Year Engagement Forum of CICAN in Ikeja, Lagos.
Okonji noted that although Nigeria’s economy recorded a 3.98 percent growth in the third quarter of 2025, the manufacturing sector remains weak, contributing only 9.62 percent to GDP in the first quarter — a steady decline over the past five years.
He described the sector’s fragility as a threat to national development and long-term competitiveness.
He identified persistent challenges, including unreliable electricity supply, poor infrastructure, high logistics costs, unstable foreign exchange conditions, and limited access to credit.
According to him, these obstacles continue to stifle investment, reduce output, hinder expansion, and undermine job creation across the industrial value chain.
The CICAN Chairman outlined key priorities for sectoral revival, stressing the need for reliable transport networks, efficient storage systems, and affordable energy to boost competitiveness.
He also called for stronger support for local manufacturing, consistent implementation of local-content policies, and financial incentives that will restore investor confidence and encourage production of “Made in Nigeria” goods.
Okonji urged government and industry stakeholders to place industrial empowerment at the center of national economic planning, emphasizing its crucial role in job creation, wealth generation, and export growth.
He also encouraged journalists to use their platforms to spotlight sectoral challenges, demand accountability, and push for policies capable of driving a genuine industrial renaissance in 2026 and beyond.
Reporting by Sherifat Oyediran