Nigeria’s industrial sector has been seen as performing below expectations, posing a substantial threat to the country’s economic growth prospects, needing sustained industrialisation strategy, experts have said.
The Nigeria’s Gross Domestic Product (GDP), according to the National Bureau of Statistics grew by 3.13 percent year-on-year in real terms in the first quarter of 2025, mainly driven mainly by the services and industry sectors.
The industry sector’s contribution to the nation’s GDP has remained sluggish, in past years, as NBS data showed 21.08 percent contribution to GDP in 2019, 17.51 percent in 2020, 15.73 percent in 2021, 16.61 percent in 2022, 16.71 percent in 2023 and 16. 67 percent in 2024.