Nigeria Democratic Congress (NDC) presidential candidate, Peter Obi, has called for stronger support for Nigeria’s manufacturing sector, saying the country must deliberately move from a consumption-driven economy to one built on production, job creation and exports.
Obi made the call on Thursday in a post on X after attending the inauguration of the new President of the Manufacturers Association of Nigeria (MAN), Dr. Eric Okoye, at the Oriental Hotel in Lagos.
He said he attended the ceremony at the invitation of the newly inaugurated MAN President and other former leaders of the association, where he also interacted with manufacturers on the future of the sector.
According to Obi, Nigeria has the capacity to grow its manufacturing industry if governments at all levels provide the right policies, improve the business environment and strengthen collaboration with the private sector.
He noted that manufacturing currently contributes about 7.5 per cent of Nigeria’s Gross Domestic Product (GDP), which is lower than Egypt’s 14 per cent, Morocco’s 15 per cent, Vietnam’s 25 per cent, Indonesia’s 19 per cent and Bangladesh’s 20 per cent.
Obi said, “We must therefore deliberately move from a consumption-driven economy to a productive economy, one that produces, creates jobs, adds value and competes successfully in the global market.”
He added, “A stronger manufacturing sector will expand employment opportunities, strengthen our productive capacity, reduce our dependence on imports, increase exports, and improve the standard of living of our people.”
The former Anambra State governor congratulated Dr. Okoye and his executive team, expressing confidence that they would provide effective leadership for the association.
He said he looked forward to continued engagement with manufacturers as part of efforts to build a more productive and prosperous Nigeria.
Manufacturing is widely regarded as a major driver of industrial growth because it creates jobs, supports local businesses, encourages exports and reduces dependence on imported goods. Economists have repeatedly stressed that expanding the sector is key to achieving sustainable economic growth and improving living standards.
