Valentine Okafor
A newly released report by Rome Business School Nigeria (RBSN), one of Nigeria’s foremost business schools and corporate training institutions based in Lagos, has revealed why ‘Made in Nigeria’ policy has not yielded much success.
It says the answer lies not in a shortage of ideas or government policies, but in a broken economic system that rewards the export of raw materials with little value addition leading to poor strategic positioning of the “Made in Nigeria” brand.
The report, titled “Rethinking ‘Made in Nigeria’: Value Chains, Global Positioning and Economic Identity Transformation,” challenges one of Nigeria’s longest-running economic campaigns. It argues that simply encouraging Nigerians to buy locally made products is no longer enough. Instead, the country must build a brand reputation capable of competing confidently on the global stage.
One of the report’s most revealing examples is Nigeria’s shea industry. Although the country supplies about 40 per cent of the world’s raw shea nuts, it earns only one per cent of the global shea products market, valued at approximately 6.5 billion dollars. The real profits, the report explains, are made outside Nigeria where the nuts are processed into cosmetics, packaged into premium products and sold under international brands.
The same story, according to the report, repeats itself in cocoa, leather, spices and several agricultural commodities. Nigeria produces the raw materials, while other countries create the brands, process the products and earn the highest returns.
Even in the petroleum industry, where Nigeria is one of the world’s leading oil producers, the report found that only about 15 per cent of the sector’s value is retained within the country. Comparable economies such as Brazil retain more than 40 per cent, creating more jobs, stronger industries and greater economic resilience.
For ordinary Nigerians, the impact is evident in rising unemployment, increasing dependence on imported goods, expensive locally manufactured products and businesses forced to generate their own electricity, repair bad roads and absorb high logistics costs before making a single sale.
The report estimates that more than 40 per cent of fresh agricultural produce is lost after harvest because of poor roads, inadequate storage facilities and weak cold-chain logistics. As a result, smallholder farmers lose more than 30 per cent of their income, even after months of hard work.
It also paints a worrying picture of Nigeria’s business landscape. Although Micro, Small and Medium Enterprises (MSMEs) account for 96.9 per cent of businesses, employ 87.9 per cent of the workforce and contribute 46.32 per cent of the nation’s Gross Domestic Product, they account for only 6.21 per cent of exports, showing that most Nigerian businesses remain trapped in survival mode rather than becoming globally competitive enterprises.
Nigeria’s dependence on crude oil also remains overwhelming. The report reveals that crude oil accounted for 74.98 per cent of exports in the second quarter of 2024 and 65.44 per cent in the third quarter, while manufacturing contributes only about nine per cent of GDP, with factories operating at just 57 per cent of installed capacity.
Speaking on the significance of the report, Prof. Antonio Ragusa, Founding President and Dean of Rome Business School Nigeria, said Nigeria possesses all the ingredients needed to become a manufacturing powerhouse, but must move beyond exporting raw commodities to creating value through innovation, processing, branding and globally competitive production.
He stressed that “Made in Nigeria” should no longer be viewed as a patriotic slogan but as a symbol of quality, innovation, trust, deliberate national branding and international competitiveness.
Also commenting, Sam Igwe, Head of Academics, Rome Business School Nigeria, said the report demonstrates that the country has the capacity to reposition herself as a reputable national brand, which will greatly influence the global appeal of Made in Nigeria across different industries just like Afrobeat.
According to him, Nigeria must deliberately build stronger institutions, modern industrial infrastructure and efficient supply chains capable of producing goods that meet international standards and compete successfully in export markets. But most importantly invest in national branding initiatives.
For Olakunle Asummo, General Manager, Rome Business School Nigeria, the findings should serve as a wake-up call for policymakers, investors and manufacturers.
He said the country’s enormous entrepreneurial talent can only translate into sustainable economic growth if businesses receive the right support through better infrastructure, quality certification, modern packaging, financing and globally recognised standards.
Beyond economics, the report argues that rebuilding confidence in Nigerian products requires changing perceptions. Consumers often choose imported goods, not because they dislike locally made products, but because they seek consistency, quality assurance, reliable packaging, warranties and stronger consumer protection. The study insists that trust must be earned through quality and accountability rather than appeals to patriotism alone.
The report concludes that Nigeria is not suffering from a lack of production or entrepreneurial talent. Rather, it is losing enormous economic value because production, processing, branding, logistics and global marketing remain disconnected. It recommends that any future “Made in Nigeria” initiative should be built around five pillars—international certification, world-class product design, premium packaging, authentic storytelling and robust consumer protection—to enable Nigerian products compete successfully in global markets while creating jobs, reducing poverty and driving sustainable economic growth.