• Says we must raise a critical alarm about precipitous plunge in overall industrial growth
Dike Onwuamaeze
Manufacturers Association of Nigeria (MAN) raised concerns that while headline growth suggested economic resilience, a critical analysis revealed a widening disconnect between macroeconomic figures and real-sector vitality. MAN stated this position following the recently released “Second Quarter 2026 Gross Domestic Product (GDP)”, which indicated an overall year-on-year real GDP growth rate of 4.43 per cent, up from 3.89 per cent in Q1 2026 and 4.23 per cent in Q2 2025.
It said the growth trajectory remained disproportionately service-driven, which constituted 56.62 per cent of the GDP), “while the broader industrial sector that made up 17.23 per cent of GDP is visibly suffocating under severe structural headwinds.”
MAN said, “The Q2 2026 GDP performance serves as a reminder that sustainable national prosperity must be anchored in active domestic manufacturing, not just service consumption and extraction.”
