High costs weaken Nigeria’s industrial competitiveness
By the AFREEQUE newsroom, based on Vanguard
The Nigeria Economic Summit Group says high production costs, unreliable electricity and logistics gaps are weakening Nigeria’s industrial competitiveness. Its co-facilitator, Lumun Feese, called for a council within the presidency to coordinate industrialisation policies at the Nigerian Economic Summit in October 2026, Vanguard reports.
High production costs, an unstable electricity supply and inadequate logistics infrastructure are reducing Nigeria’s industrial competitiveness, the Nigeria Economic Summit Group (NESG) has warned. At a session of the 32nd Nigerian Economic Summit in Abuja, its co-facilitator, Lumun Feese, called for a council to be set up within the presidency to coordinate industrialisation policies, Vanguard reports.
Nigeria has fallen from eighth to 14th place in the African Development Bank’s industrialisation index for Africa. Lumun Feese noted, however, that the calculation method had changed and that more countries were included in the ranking.
The proposed council should align public policies, improve implementation of the national industrial policy and strengthen private-sector participation. Participants at the session also cited a lack of funding, skills shortages, regulatory hurdles, insecurity and inadequate export infrastructure.
Gerald Okunsebor, special adviser on strategy to the Minister of State for Industry, called for an implementation framework setting out responsibilities, deadlines and accountability mechanisms. The recommendations were drawn up after consultations on mining, the blue economy, energy, hydrocarbons and industrial competitiveness, according to Vanguard.
