Nigerian manufacturers are sounding alarms over escalating operational costs, urging immediate reforms in power supply and taxation to enhance factory output. In 2025, alternative power expenditures soared to nearly N1.4 trillion, reflecting the dire need for reliable energy sources. This financial strain hampers competitiveness, with many firms struggling to keep pace with global standards.
Industry leaders have highlighted that persistent power outages and high tax burdens are stifling growth. "Without urgent power and tax reforms, the manufacturing sector will remain uncompetitive and unable to contribute fully to the economy," stated Mansur Ahmed, President of the Manufacturers Association of Nigeria. His remarks underscore the critical nature of these reforms amid a challenging economic landscape.
Looking ahead, manufacturers are hopeful that ongoing discussions with the government will yield actionable policies. As the Nigerian economy seeks to diversify and strengthen its industrial base, addressing these fundamental issues could pave the way for sustainable growth and increased global competitiveness. The call for reform is not just a plea for survival but a strategic move to bolster Nigeria's manufacturing prowess in the face of global challenges.