May 29, 2026
By Yinka Kolawole
Despite Nigeria’s modest economic growth in the first quarter of 2026, experts have raised concerns over the weak performance of the manufacturing sector, warning that the economy may struggle to achieve sustainable transformation without a stronger industrial base.
Chief Executive Officer of the Centre for the Promotion of Private Enterprise, CPPE, Dr Muda Yusuf, gave the warning in a policy brief on the Q1 2026 Gross Domestic Product, GDP, report released by the National Bureau of Statistics, NBS.
According to the NBS report, Nigeria’s real GDP grew by 3.89 per cent year-on-year in Q1 2026, compared to 3.13 per cent recorded in the corresponding period of 2025.
