MAN Warns Nigeria’s 4.43% GDP Growth Is Hiding an Industrial and Security Crisis
The Manufacturers Association of Nigeria has warned that Nigeria’s 4.43% GDP growth in the second quarter of 2026 masks serious weakness in manufacturing and the wider industrial sector. While services contributed 56.62% of GDP, industry accounted for just 17.23%, with industrial growth slowing from 7.46% in Q2 2025 to 3.96% in Q2 2026. MAN said manufacturing’s GDP share fell from 9.57% in the first quarter to 7.72% in the second quarter. It blamed high production costs, foreign-exchange pressure, expensive loans and rising electricity tariffs. The association called for improved power supply for industrial clusters, cheaper financing, FX access for raw materials and stronger local procurement rules. Senator Gbenga Daniel also argued that GDP figures alone do not show Nigerians’ real economic condition. He said progress should be measured by whether people can find decent jobs, farm safely, run profitable businesses and invest with confidence. He added that insecurity raises food and transport costs, weakens investment and makes economic growth harder to sustain.
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