Nigeria's manufacturing sector reported a record remittance of N329.59 billion in Value Added Tax (VAT) for the first quarter of 2026, marking the highest quarterly contribution in four years, according to Punch.

The Federal Government of Nigeria has reported securing over $380 million in investment commitments within the first 90 days of implementing the Nigeria Industrial Policy (NIP) 2025. This progress aims to enhance local manufacturing, exports, skills development, and industrial infrastructure, according to a report from the Office of the Federal Government.

The Manufacturers Association of Nigeria (MAN) has confirmed data from Vanguard Newspaper indicating a 22.5 percent decline in bank credit to manufacturers, amounting to N1.9 trillion. MAN expressed concerns that this decline could negatively impact industrial growth, increase unemployment, and hinder policy implementation, attributing the issue to high interest rates and policy gaps.

Commercial bank credit to Nigeria's manufacturing sector has decreased by N1.92 trillion, attributed to funding gaps and high lending rates that are hindering access to finance for manufacturers, according to Punch.

According to the Manufacturers Association of Nigeria (MAN), commercial bank credit to Nigeria's manufacturing sector fell by 22.5% in 2025. This decline has raised concerns regarding the potential impact on industrial growth and job creation in the country.

The Manufacturers Association of Nigeria (MAN) has criticized the average prime lending rates of 27 percent and maximum lending rates of 36.5 percent charged by major commercial banks as of May 2026, labeling them as exploitatively high for the manufacturing sector.