Manufacturers Rising Confidence amidst Challenges
Manufacturers Association of Nigeria’s report shows that the federal government’s productions focused reforms and policies are enhancing manufacturers’ confidence in the business environment, writes Dike Onwuamaeze The chief executives of Nigerian
Nigerian manufacturers are expressing renewed confidence in the business environment, despite ongoing challenges, according to the Manufacturers Association of Nigeria (MAN). The Manufacturers CEO Confidence Index (MCCI) for the second quarter of 2026 shows a 3.4-point increase from Q1 2026, signaling a return to manufacturing activities in the country.
This improvement is attributed to the federal government's production-focused reforms and policies, such as tax law reforms, presidential executive orders, and policies like the Nigeria Industrial Policy and the "Nigeria First" Policy. However, some manufacturing executives still express concerns over employment and business conditions, with their indices falling below the Q1 2026 record.
The Director General of MAN, Mr. Segun Ajayi-Kadri, noted that manufacturing executives are optimistic about improved conditions, with projections indicating that indices for Q3 2026 will cross 50, with business conditions reaching 55.6, employment condition at 55.2, and production condition at 63. Confidence levels varied across sectors, with motor vehicle and miscellaneous assembly sectors reporting high confidence (69.4) and basic metals, iron, and steel sectors recording moderate confidence (44.8).
However, sectors such as chemicals, pharmaceuticals, and pulp, paper, printing, publishing, and packaging reported no confidence.
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