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.

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.

In the first quarter of 2026, Nigeria's manufacturing sector contributed significantly to government revenue, generating a total of N404.07 billion from Value Added Tax (VAT) and Company Income Tax (CIT). This included N329.59 billion from VAT and N74.48 billion from CIT, according to data from the National Bureau of Statistics (NBS).

Uganda's manufacturers are facing challenges such as high production costs, limited access to long-term capital, reliance on imported inputs, and fragmented supply chains. To address these issues, they are advocating for enhanced collaboration across supply chains, innovative financing solutions, and increased investment in value addition, according to The Independent.