Nigeria’s rebased economy must translate into industrial growth — Minister

Also speaking at the event, Director-General of the Manufacturers Association of Nigeria, MAN, Segun Ajayi-Kadir, said Nigeria must urgently move its manufacturing sector from mere resilience to sustained growth above the pace of the wider economy if the country is to achieve meaningful industrial transformationAccording to him, the current recovery in industry and manufacturing remained selective and fragile, with the sector’s share of Gross Domestic Product, GDP, still under pressure.8 trillion rebased economy into higher manufacturing output, jobs and value addition, warning that a bigger economy on paper means little without stronger industrial capacity.

He also cited the operationalisation of the Nigeria First policy in public procurement and the development of a National Industrial Policy (NIP) as key steps towards strengthening domestic production, warning, however, that the interventions remained inadequate without scale.