Nigeria’s manufacturing sector may face serious challenges as tensions between the United States and Iran continue to affect global markets. The Manufacturers Association of Nigeria (MAN) has raised concerns that the situation could disrupt operations and slow down growth in 2026.
According to MAN’s Director General, Segun Ajayi-Kadir, many manufacturers are already struggling with rising energy costs. Since most factories depend on diesel and gas, the increase in global oil prices has made production more expensive, reducing profits for many businesses.
He also explained that the cost of importing raw materials is going up due to higher shipping fees and longer delivery times. This has made it harder for manufacturers to keep production steady. At the same time, consumers are spending less, leaving companies with unsold goods.
To address these issues, MAN is asking the Federal Government to act quickly. They suggested expanding the use of compressed natural gas (CNG) to reduce fuel costs and creating a special foreign exchange window to help manufacturers import essential materials more easily.
MAN believes this situation is a reminder that Nigeria needs to reduce its dependence on imports. The association warned that without urgent action, many factories could shut down, leading to job losses. However, they also see this as a chance for the country to strengthen local production and become more self-reliant.
