NESG: Nigeria’s high production costs threaten industrial competitiveness

By Favour Ulebor

The Nigeria Economic Summit Group has warned that high production costs, unreliable electricity and poor logistics infrastructure are undermining Nigeria’s industrial competitiveness, calling for a council within the Presidency to coordinate industrialisation policies.

Co-facilitator of the NESG, Lumun Feese, said Nigeria needed a coordinated approach to industrial development to address structural challenges and enable local manufacturers to compete effectively in African markets.

She spoke at a breakout session on building an integrated industrial ecosystem during the 32nd Nigeria Economic Summit in Abuja.

Feese said Nigeria had dropped from eighth to 14...