By yinka Kolawole
At the backdrop of improved optimism among manufacturers in Nigeria’s business environment, the manufacturing sector contributed N4.128 trillion to the nation’s Gross Domestic Product, GDP, in the second quarter of 2026 (Q2’26), indicating a 3.3 percent year-on-year (y/y) increase compared to N3.998 trillion recorded in Q2’25.
Data from the National Bureau of Statistics (NBS), however, showed that the sector’s performance weakened sharply on a quarter-on-quarter (q/q) basis, falling 15.9 percent from N4.906 trillion recorded in the previous quarter (Q1’26), highlighting persistent structural pressures confronting manufacturers in the country.
Recall that the Q2’26 Manufacturers’ CEOs Confidence Index (MCCI) released by the Manufacturers Association of Nigeria (MAN) showed that the aggregate index rose to 52.1 points in Q2’26, up from 48.7 points in Q1’26, signalling improved confidence and a return to positive business sentiment by Nigerian manufacturers.
MAN, however, cautioned that the improvement was driven more by expectations about Q3’26 than actual Q2’26 operating conditions.
