Yemisi Izuora
The Manufacturers Association of Nigeria (MAN) has released the findings of its third-quarter 2025 Manufacturers CEO’s Confidence Index (MCCI) and the highlights of the 2025 MAN High-Level Think Tank Report, emphasizing the need for sustained government reforms to ensure the continued recovery and growth of the nation’s manufacturing sector.
Speaking at the official presentation of the reports in Lagos, the President of MAN, Otunba Francis Meshioye, noted that the performance of Nigeria’s manufacturing sector has remained fluctuating over the years due to persistent structural challenges.
He stressed that MAN has continued to engage government and international partners to promote industrialization and sustainable growth.
Citing key publications such as the MAN Blueprint 2.0, the Bi-Annual Economic Review, and the MCCI as tools that guide policy formulation, Meshioye said, “Through evidence-based advocacy and strategic partnerships, MAN has contributed significantly to the evolution of pro-manufacturing policies,.”
He added that while successive governments have implemented some of MAN’s policy recommendations, others were still awaiting attention.
The annual press briefing, he explained, serves as a strategic platform to urge government to revisit critical recommendations and fast-track interventions that will guarantee the survival and competitiveness of Nigerian industries.
The MAN Think Tank, according to him, is designed to deepen consultation and technical input into policy advocacy, engaging participants from academia, professional institutions, and relevant ministries.
Also speaking, the Director General of MAN, Mr. Segun Ajayi-Kadir, mni, described the MCCI as a quarterly barometer of the perceptions and expectations of manufacturing CEOs on the economy.
He disclosed that the Aggregate Index rose modestly by 0.4 points from 50.3 in the second quarter to 50.7 in the third quarter of 2025, signaling a cautiously improving confidence level among manufacturers.
MAN DG attributed this improvement to easing inflationary pressures, a more stable exchange rate, and recent government policy adjustments.
Ajayi-Kadir, cautioned that all current indices remained below the 50-point benchmark, indicating continued fragility in the sector.
He identified high inflation, volatile exchange rates, and elevated interest rates as key drags on production performance.
MAN DG added that while current production conditions declined slightly due to energy supply disruptions, projections for the next quarter were positive, buoyed by policy incentives such as reduced interest rates, suspension of the 4% Free-on-Board levy, and tax reliefs for local raw material sourcing.
The MAN President reaffirmed that the sector was gradually inching toward full recovery, as evidenced by the consistent rise in the confidence index.
He urged the Federal Government to critically review and implement the recommendations contained in both the MCCI and Think Tank reports to consolidate gains and address lingering constraints.
“A nation that neglects manufacturing may grow in numbers but not in wealth. Real growth begins only when raw potential is refined into productive capacity,” Ajayi-Kadir remarked.