Constraints of the manufacturing sector
Nigeria’s reliance on imported raw materials has reached an all-time high of N3.53 trillion in Q1 of 2026. It has also choked domestic manufacturing and local value addition. Even the food import bills had exceeded exports in the last three years at approximately N18.07 trillion or $7 billion, according to data from the National Bureau of Statistics (NBS). Due to the high dependence on imports, estimated at over 70 per cent of total manufacturing requirement, industry leaders have raised the alarm on the risks involved and urged the Federal Government to reverse the situation, as this undermines import substitution goals,…
12th October 2026