Manufacturers have renewed calls for stronger and more consistent policy support to sustain Nigeria’s fragile industrial recovery, as the Manufacturers’ Confidence Index (MCCI) rose marginally to 50.7 points in the third quarter of 2025 (Q3’25), up from 50.3 points in the previous quarter (Q2’25). The slight increase reflects cautious optimism among industry leaders about the sector’s outlook.

The Manufacturers Association of Nigeria (MAN) disclosed this yesterday in Lagos during the presentation of its Q3 2025 CEO’s Confidence Index (MCCI) — a quarterly survey that measures the perceptions of manufacturing CEOs on the performance of the sector and the overall economy.

Speaking at the event, Segun Ajayi-Kadir, MAN’s Director-General, described the 0.4-point rise as modest but meaningful.

“While the increase may appear marginal, it is significant because it points to cautious optimism that the sector is beginning to find its footing after a long period of turbulence,” he said.

Ajayi-Kadir, however, cautioned that the recovery remains fragile and could easily reverse without deliberate, industry-friendly policy interventions.

Presenting details of the report, Dr. Oluwasegun Osidioe, MAN’s Director of Research and Economic Policy, noted that the manufacturing sector displayed modest resilience, with capacity utilisation improving to 61.3 percent in the first half of 2025, compared to 57.6 percent in the second half of 2024.

He added that while the sector recorded a slight slowdown in real output growth—at 1.6 percent in Q2 2025—it still contributed 7.81 percent to GDP, down from 9.62 percent in the previous period.

“The modest yet consecutive rise in the MCCI reaffirms that Nigeria’s economy is on a path of gradual recovery,” Osidioe said, emphasizing the need for policy consistency and exchange rate stability to consolidate the gains achieved so far.