Nigeria’s Industrialisation At Risk Due To Declined Manufacturing, Agric Sectors

Industry stakeholders are becoming increasingly concerned as the gap between the contributions of the real and services sectors to the economy grows in favour of the latter.

The stakeholders say the development is consolidating the country’s economic structural defect, which subdues progress towards industrialisation, as the real sector is considered the bedrock of economic growth.

Available official data indicates that while the real sector, consisting mainly of manufacturing and agriculture, is entering its sixth consecutive year of decline in 2025, the services sector is on the increase.

The data shows that the manufacturing sector recorded a mere 8.8 per cent average contribution to the Gross Domestic Product, GDP, between 2020 and 2024. The agriculture sector grew by 25.5 per cent.