Manufacturing Falls To 7.7% Of GDP As Federal Govt Targets 25% By 2030

Nigeria’s manufacturing sector has seen its contribution to the economy plunge to 7.72 per cent, despite recording its strongest growth in four years, prompting the federal government to set an ambitious target of raising the sector’s share of Gross Domestic Product (GDP) to between 20 and 25 per cent by 2030.
President Bola Tinubu, who disclosed this yesterday in Lagos, said the decline from more than one-fifth of real GDP in the early 1990s underscored the urgent need to reposition manufacturing as the engine of Nigeria’s economic transformation.
The president spoke at the 6th Adeola Odutola Lecture and 54th Annual General Meeting of the Manufacturers Association of Nigeria (MAN), w...