Nigeria’s manufacturing sector expanded at a faster pace, with growth accelerating to 3.24 percent in Q2 2026 from 1.69 percent in the corresponding quarter of 2025, driven by renewed optimism.
Data from the National Bureau of Statistics shows that the sector’s real contribution to GDP in the second quarter was 7.72 percent, lower than the 7.81 percent recorded in the same period of 2025 and 9.57 percent recorded in the first quarter of 2026.
The pickup reflects better access to foreign exchange, increased confidence in government reforms, and expectations of lower borrowing costs have prompted firms to raise output and restock inventories.
The Manufacturers Association of Nigeria’s CEO Confidence Index rose to 52.1 from 48.7, its highest level in more than two years in the second quarter of 2026, signaling renewed optimism in the sector.
“Specifically, within the second quarter of 2026, manufacturers reported a return of confidence in doing
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