Declining manufacturing tax signals weakening industrial activity — Oye

Nigeria's industrial activity shows signs of weakening, as indicated by a decline in manufacturing tax revenue during the first quarter of 2026. The Alliance for Economic Research and Ethics (AERE) has issued a warning, urging swift government action.

Oye, the Chairman of AERE, emphasized the need for far-reaching reforms from both the Federal Government and the Central Bank of Nigeria (CBN). These reforms are deemed crucial to revive the nation's productive sector, which appears to be faltering.

The policy brief from AERE underscores a concerning trend in the manufacturing sector. The drop in tax contributions suggests a slowdown in production and potentially broader economic challenges. The call for reforms highlights the urgency to address these issues and bolster industrial output.