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The Nigeria Economic Summit Group (NESG) has reported that the country’s economy has expanded for 11 consecutive months, driven largely by gains in manufacturing and trade activities. The think tank says the performance signals resilience despite persistent inflation, currency volatility, and high production costs.
According to the NESG’s latest economic review, the manufacturing sector has shown notable recovery, fueled by increased domestic production, demand for locally made goods, and strategic policy support from government agencies. Trade activities have also benefited from stronger logistics networks and rising consumer spending in urban centers.
The NESG noted that the consistent growth pattern reflects gradual adaptation by businesses to Nigeria’s post-reform environment, particularly in the face of foreign exchange adjustments and fuel subsidy removal. Many companies have shifted focus toward local sourcing to reduce import dependence and mitigate supply disruptions.
Data from the National Bureau of Statistics (NBS) show that the manufacturing sector remains one of Nigeria’s top GDP contributors, supported by small and medium-scale enterprises in food processing, textiles, and consumer goods. Meanwhile, trade continues to absorb a large share of Nigeria’s informal workforce, sustaining millions of livelihoods.
Despite the progress, NESG warned that structural weaknesses remain. High energy costs, inadequate power supply, and limited credit access continue to constrain output growth. The group emphasized the need for targeted fiscal incentives, investment in industrial clusters, and improved infrastructure to maintain the growth streak.
Analysts also highlighted the importance of export diversification. As global demand for oil fluctuates, expanding non-oil exports through agro-processing, light manufacturing, and regional trade partnerships could enhance Nigeria’s long-term stability.
The NESG concluded that maintaining policy consistency and supporting productive sectors will be key to sustaining growth momentum. If manufacturing and trade continue to lead the charge, Nigeria may be on track for a stronger recovery heading into 2026.