The Manufacturers Association of Nigeria (MAN) has unveiled the findings of its Q3 2025 Manufacturers CEO’s Confidence Index (MCCI) alongside the highlights of its 2025 High-Level Think Tank Report, calling for sustained and urgent government reforms to safeguard Nigeria’s delicate industrial recovery.
Presenting the reports in Lagos, MAN President, Otunba Francis Meshioye, OFR, said Nigeria’s manufacturing performance has continued to swing unpredictably due to deep-rooted structural constraints. According to him, despite pockets of progress, the sector remains vulnerable and requires decisive and coordinated policy actions.
Meshioye emphasized that MAN has maintained consistent engagement with government and global development partners to promote industrialization and drive sustainable growth. He explained that the MAN Blueprint 2.0, the Bi-Annual Economic Review, and the MCCI have served as key research tools informing policy advocacy and offering evidence-backed recommendations to policymakers.
“Through evidence-based advocacy and strategic partnerships, MAN has contributed significantly to the evolution of pro-manufacturing policies,” Meshioye said, noting that while successive administrations have implemented several of the association’s recommendations, many critical proposals remain unattended.
He described the annual press briefing as a strategic avenue to amplify industry concerns and urge government to revisit and accelerate interventions crucial to the survival and competitiveness of local manufacturers. The MAN Think Tank, he added, was specifically designed to deepen consultation and enrich technical input into policy advocacy using insights from academia, professional bodies, and key ministries.
Also speaking, MAN Director General, Mr. Segun Ajayi-Kadir, mni, explained that the MCCI serves as a quarterly gauge of the perceptions and expectations of manufacturing chief executives regarding the state of the economy.
Ajayi-Kadir disclosed that the Aggregate MCCI Index increased slightly by 0.4 points, moving from 50.3 in Q2 to 50.7 in Q3 2025 — an indication of cautious optimism among CEOs. He attributed the modest improvement to easing inflationary pressures, greater exchange rate stability, and recent government policy adjustments.
However, he warned that most indices remain below the 50-point baseline, underscoring persistent fragility within the manufacturing ecosystem. High inflation, unstable forex conditions, and rising interest rates continue to weigh heavily on production costs, while energy supply disruptions slightly dragged down current output performance.
Despite these challenges, Ajayi-Kadir noted that manufacturers remain hopeful about the next quarter due to policy incentives such as lower interest rates, the suspension of the 4% Free-on-Board levy, and tax reliefs for firms sourcing local raw materials.
Meshioye reaffirmed that the sector is gradually inching toward recovery, as shown by the consistent upward trajectory of the index. But he stressed that progress can only be sustained if government urgently reviews and implements the actionable recommendations in both the MCCI and Think Tank Reports.
“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 concluded.
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