The Tinubu Media Volunteers (TMV) has linked a sharp rise in manufacturing investment to the economic reforms of President Bola Tinubu’s administration, saying local producers are now sourcing more of their inputs at home.
In a statement signed on Monday by its Chairman, Chukwudi Enekwechi, and Secretary, Segun Ogedengbe, the group said the past year has brought a remarkable change in the sector.
It pointed to figures from the Manufacturers Association of Nigeria (MAN), which showed that investment in the sector rose by 102.16 per cent, from N658.81 billion in 2024 to N1.33 trillion in 2025.
According to MAN, the increase was driven by manufacturers’ efforts to cut reliance on foreign inputs, along with greater stability in the foreign exchange market.
The statement read, “We also acknowledge that the surge in investments is traceable to aggressive backward integration and expansion of local production capacity by the manufacturers.”
The group added that, faced with rising production and distribution costs, manufacturers chose to source key materials locally. This, it said, lowered their exposure to foreign liquidity, strengthened domestic supply chains and improved operational efficiency.
TMV also said it supports the policy proposals put forward by manufacturers to deepen backward integration, expand local sourcing and make government procurement more favourable to Nigerian industries.
“We believe that the positive results coming out from the manufacturing sector are a direct result of the economic reforms the Tinubu administration enunciated at its inception,” the group said.
It added that the policies are also designed to encourage local production of goods and boost exports.
The group commended the Tinubu administration for the reforms, insisting that they are already delivering the intended results.
