Tinubu Targets 20 to 25 Per Cent Manufacturing GDP by 2030

President Bola Ahmed Tinubu has committed to raising manufacturing’s contribution to Nigeria’s gross domestic product to between 20 and 25 per cent by 2030. He spoke through the Minister of State for Industry, Trade and Investment, John Owan Enoh, at the Manufacturers Association of Nigeria’s 54th yearly general meeting in Lagos.

Tinubu said the target cannot be achieved through policy documents alone. Manufacturing’s contribution to real GDP fell from 9.57 per cent in the first quarter of 2026 to 7.72 per cent in the second quarter. Manufacturing output grew by 3.29 per cent and 3.24 per cent respectively. “It will be reached by power in your plans, by credit in your accounts, by raw materials at your gates and markets for your goods,” he said.

Financing and delivery scorecard

The government’s industrial policy envisages channelling up to five per cent of GDP into industrial financing. Implementation will be driven by seven strategic thrusts. The Industrial Revolution Work Group, chaired by Enoh, brings government, the organised private sector, financiers and development partners together under a common scorecard. The scorecard will measure progress by factories reopened, capacity utilisation, jobs created, exports shipped and new factories established.

Tinubu said he had directed the Ministry of Industry, Trade and Investment, through the work group, to hold quarterly delivery dialogues with MAN. The dialogues will let the association hold government accountable for implementation. On financing, the government will work with the Bank of Industry, development finance institutions and commercial banks to provide patient, affordable and long-term funding for productive enterprises.

Power, procurement and trade

The government will continue to prioritise gas for industry and reliable electricity for industrial clusters. Public procurement will favour Nigerian-made goods that meet required standards under the Nigeria First policy. Industrial corridors, highways and supply routes will be protected. Trade facilitation measures, including the National Single Window, will reduce the time and cost of moving goods across ports and borders.

Tinubu said Nigeria must position itself for the African Continental Free Trade Area (AfCFTA), which he described as a single market of 1.4 billion people with a combined GDP of about $3.4 trillion. He noted that only 3.4 per cent of Nigeria’s non-oil exports in 2025 went to fellow ECOWAS member states. Africa, he said, is the largest market Nigeria is yet to fully serve. “Nigeria will not be Africa’s warehouse storing what others make. Nigeria will be Africa’s workshop making what Africa needs and sending it with pride across the continent and beyond,” he said.

He urged manufacturers to invest in capacity, deepen backward integration, meet the standards of target markets, train and retain young people, and treat the African market as their home market.

Manufacturers’ concerns

MAN estimated that manufacturers’ unsold inventory stood at just under N2 trillion, with some companies selling below production cost to keep factories operating. MAN President Francis Meshioye said successful implementation of the Nigeria Industrial Policy would depend on consistency, institutional coordination and measurable outcomes. Progress should be assessed through improved industrial competitiveness, lower production costs, increased investment in productive capacity, stronger manufacturing exports, greater participation in regional and global value chains, and higher industrial employment.

Meshioye said manufactured goods accounted for only N2.5 trillion, or 2.94 per cent, of Nigeria’s total exports of N85.13 trillion in 2025. He said MAN considered implementation of the National Industrial Policy central to improving the operating environment for manufacturers and strengthening Nigeria’s industrial base. He urged the Federal Government to fast-track implementation with clearly defined timelines, measurable performance indicators and institutional accountability across relevant ministries, departments and agencies. He also called for a Nigeria First Industrial Fund to provide long-term concessionary financing, support technology upgrading and promote local value addition.

For Nigerian manufacturers, the 2030 target now rests on execution. The figures show how far manufacturing still is from the government’s goal. The pledge on credit, power and market access will be judged by factory output, exports and jobs.