Manufacturers groan as rising credit, production costs threaten recovery

By Yinka Kolawole
Nigeria have warned that the high cost of credit and rising production expenses remain major threats to the recovery of the manufacturing sector, despite a renewed improvement in manufacturers’ confidence in the economy.
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This was revealed by the Manufacturers Association of Nigeria (MAN) in its
Manufacturers’ CEOs Confidence Index (MCCI) for the second quarter of 2026 (Q2’26).
Manufacturers’ CEOs identified limited access to finance as their primary challenge, with two in every three executives citing commercial bank lending rates as a major disincentive to manufacturing productivity. They also...