The Nigerian manufacturing sector has continued to improve its productivity in direct response to various intervention programmes by government. The sector’s capacity utilization has grown from an average of 35% in the 1990s to an average of 55% in the last three years. The average contribution to National GDP has grown to over 9% in 2014.Lagos and its surroundings are home to about 60% of Nigeria’s industrial base. Other key industrial centres are Kano, Aba,Port-Harcourt, Ibadan and Kaduna. Nigeria’s most important manufacturing industries include cement, food processing, textiles, detergents and emerging automotive assembly plants.
The Nigeria government has made it a priority to diverse her revenue base from oil to non-oil and has embarked on radical industrial revolution plan to position the country as manufacturing hub in the Sub-Sahara Africa. We are desired to drive a process of intense industrialization, based on sectors of comparative advantage - such as the agro allied sectors; metals & solid minerals related sectors; oil & gas related industries; as well as construction, light manufacturing and services.
The manufacturing revolution in Nigeria is tailored towards acceleratingindustrial capacity utilization and increasing manufacturing’s contribution to GDP as contained in the Industrialization Plan. TheFederal Government of Nigria target is to generate an additional US$20 billion to US$30 billion (i.e. NGN 3.2 trillion to NGN4.8 trillion) in manufacturing revenues over the next 3 to 5 years and create jobs, generate wealth, diversify the economy from oil & gas, substitute imports, diversify exports, and broaden the Nigerian government’s tax base.
Taking cognizance of the peculiarities of each sector, four (4) key sectors with 19 sub-sectors where huge investment opportunities exist have been identified for investors. These sub-sectors include:
- Agro-allied and Agro Processing
- Food Processing (Beverages, Packaged Foods, etc)
- Sugar Production
- Palm Oil Processing
- Leather and Leather Products
- Rubber Products(i.e Tyre)
- Cocoa Processing
- Metals and solid Minerals Product
- Cement Production
- Automobile Assembly
- Basic Metal/Steel
- Oil & Gas Related Industries
- Construction and Light Manufacturing
- Cotton, Textile and Garment
- Minimum Investment Risk
- HighReturn on Investment.
- Huge local resource of cost effective workforce
- Vibrant small and medium enterprises in various value chains
- Industry Specific Intervention Fund packaged to support manufacturing e.g 220 Billion Naira MSMEsIntervention, Textile 100 Billion Intervention Fund etc
VITAL CONTACTS ABOUT YOUR INVESTMENT:
- The Executive Secretary
Nigerian Investment Promotion Commission (NIPC)
Plot 1181, Aguiyi-Ironsi Street
- The Honourable Minister
Federal Ministry of Industry, Trade and Investment
Old Federal Secretariat, Block H
P. M. B. 88, Garki, Abuja.
- The President
Manufacturers Association of Nigeria
Obafemi Awolowo Street,
Ikeja, P.O. Box 3835, Marina, Lagos