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 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.

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.

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.

According to a report by Omni, Nigeria's fast-moving consumer goods (FMCG) market has reached a value of $25 billion. However, only 18% of retailers in the sector have accessed formal credit. The report suggests that technology may play a crucial role in bridging this gap in financial access for retailers.

New data from the Central Bank of Nigeria (CBN) indicates a significant increase of N17.4 trillion in federal government borrowing, which raises concerns about the growing public sector debt and the potential impact on private sector credit availability.