The Manufacturers Association of Nigeria has expressed concern over the sharp decline in commercial bank credit to the manufacturing sector.
It warned that the trend could undermine industrial growth, job creation, and economic diversification.
The Director-General of MAN, Mr Segun Ajayi-Kadir, made this known in a statement on Tuesday in Lagos while reacting to credit allocation data for 2025.
According to him, “commercial bank credit to manufacturing fell by N1.92 trillion, from N8.53 trillion in December 2024 to N6.61 trillion in December 2025, representing a 22.5 per cent year-on-year contraction.”
Ajayi-Kadir described the decline as disturbing, noting that manufacturing recorded one of the steepest credit contractions among major sectors of the economy.
He said the development left manufacturing trailing behind the oil and gas sector, which attracted N10.59 trillion in credit, and the finance sector, which received N9.24 trillion.
According to him, the trend reflects a growing preference for speculative
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