Nigeria's economy threatened by weak manufacturing base, warns CPPE

Nigeria's economic progress is being hampered by a fragile manufacturing sector, according to the Centre for the Promotion of Private Enterprise (CPPE). Despite a modest economic growth rate in the first quarter of 2026, experts caution that the nation cannot achieve sustainable transformation without a robust industrial base.

The CPPE's Chief Executive Officer, Dr. Muda, has voiced significant concerns regarding the manufacturing sector's current performance. He emphasized that a stronger industrial foundation is not merely beneficial but essential for the country's long-term economic health and development.

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Nigeria’s modest economic growth in the first quarter of 2026, experts have raised concerns over the weak performance of the manufacturing sector, warning that the economy may struggle to achieve sustainable transformation without a stronger industrial base.

The warning underscores a persistent challenge for Nigeria, where reliance on oil exports has often overshadowed the need for diversification and industrialization. The CPPE's statement suggests that current policies or market conditions are not adequately supporting the manufacturing sector, which is vital for job creation and value addition.

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