Expanding Nigeria’s Manufacturing Sector Critical For Sustainable Development
Experts say expanding the Nation’s manufacturing sector remains critical for Nigeria’s sustainable development. This view was buttress by some guests on NTA’s flagship programme, Goodmorning Nigeria. The guests reiterated the need for the incoming administration to revamp this sector to fast track National industrial growth
The Nigerian manufacturing sector currently constitutes 10 percent of the nation’s GDP and for decades remained a manufacturing hub for West Africa.
The sector also accounts for about 12 percent of employment in the formal sector.
Guests on the programme say inspite of the re-basing of the country’s gross domestic product, the nation’s economic potentials still remains capped by weak institutions, security challenges and huge infrastructural deficit.
Experts say for Nigeria to regain its status as the central nervous system for manufacturing and distribution in West Africa the new administration must put in place adequate leadership structures and polices that empowers the private sector.