Presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi, has called for deliberate economic policies to move Nigeria away from a consumption-driven economy towards one centred on production, manufacturing, job creation and exports.
Obi made the call after attending the inauguration of the newly elected President of the Manufacturers Association of Nigeria (MAN), Dr Eric Okoye, at the Oriental Hotel in Lagos.
The former Anambra State governor said the event provided an opportunity to engage Okoye, former presidents of MAN and other industry stakeholders on the challenges and prospects of Nigeria’s manufacturing sector.
Obi argued that Nigeria possesses significant manufacturing potential but needs an economic environment capable of allowing businesses to invest, expand production and compete effectively in domestic and international markets.
He said manufacturing currently contributes about 7.5 per cent of Nigeria’s GDP, compared with higher levels in several other emerging economies, including Egypt, Morocco, Vietnam, Indonesia and Bangladesh.
“We must therefore deliberately move from a consumption-driven economy to a productive economy, one that produces, creates jobs, adds value and competes successfully in the global market,” Obi said.
According to him, strengthening domestic manufacturing would reduce Nigeria’s dependence on imported goods while increasing the country’s capacity to generate employment and expand its export base.
He also called for stronger cooperation between government and private-sector operators, arguing that appropriate policies and an enabling business environment would be necessary to unlock the sector’s potential.
The intervention comes amid persistent concerns over the operating environment facing Nigerian manufacturers, including high production costs, energy challenges, foreign-exchange pressures, infrastructure deficiencies and weak consumer purchasing power.
For Obi, addressing those constraints should form part of a broader strategy to make production rather than consumption the central driver of economic growth.
He maintained that a stronger manufacturing sector could improve Nigeria’s productive capacity, create jobs, strengthen exports and ultimately raise living standards.
The NDC candidate also congratulated Okoye and the new MAN leadership, expressing his readiness to continue engaging with manufacturers and other private-sector stakeholders.
His latest economic intervention comes as political parties begin shaping competing policy narratives ahead of the 2027 presidential election, with industrialisation, jobs and the cost of living expected to remain major issues in the contest.