…Power, logistics, high interest rates continue to cripple Nigerian manufacturers
Nigeria’s manufacturing sector has remained largely trapped in a low-growth cycle despite 26 years of uninterrupted democratic governance, according to the Centre for the Promotion of Private Enterprise (CPPE), which says the country has yet to achieve the level of industrial transformation needed to drive broad-based economic prosperity.
In a Democracy Day assessment entitled “Manufacturing Under Democracy: A Story of Resilience Amid Structural Adversity,” Muda Yusuf, Chief Executive Officer of CPPE, said the sector’s contribution to the nation’s Gross Domestic Product (GDP) has hovered between nine and 10% for most of the democratic era, reflecting limited progress in industrial development despite numerous policy reforms and government initiatives.
Yusuf described industrialisation as the engine of economic transformation, noting that a strong manufacturing base is essential for creating quality jobs, enhancing value addition, improving export competitiveness and reducing vulnerability to external economic
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