Nigeria's Industrial Production Held Back by Infrastructure Deficits

Nigeria's industrial production has been hindered by severe infrastructure deficits, including inadequate and unreliable electricity supply. This forces factories to rely heavily on expensive alternative energy sources.

Multinational companies such as GlaxoSmithKline, Procter & Gamble, and Unilever have exited the country due to foreign exchange scarcity, currency devaluation, high operational costs, and unreliable power supply.

The Manufacturers Association of Nigeria (MAN) has highlighted severe structural and macroeconomic hurdles that cumulatively stifle industrial growth. These include multiple taxation, excessive regulation, high cost and scarcity of credit facilities, Foreign Exchange volatility, rising tariffs and port charges, and insecurity.