The Manufacturers Association of Nigeria (MAN) has voiced alarm over the plummeting appeal of the country's manufacturing sector to foreign investors. In a recent report, it was highlighted that foreign investments in manufacturing dropped by a staggering 54.11% to $463.52 million during the first nine months of 2025. This decline is in stark contrast to the overall boom in foreign capital investment in Nigeria, which surged by 131.96%, reaching a total of $16.78 billion in the same period, suggesting that while Nigeria is attracting more foreign funds, the manufacturing sector is being sidelined.

Data from the National Bureau of Statistics (NBS) provides a clearer picture of the investment trends within the sector, indicating that the manufacturing sector's capital importation has sharply declined from $1.01 billion in the first nine months of 2024 to just $463.52 million in 2025. The drop is further illustrated when broken down by quarters; in the first three quarters of 2025, investments totaled $129.92 million, $72.25 million, and $261.35 million, respectively, starkly lower than the $191.92 million, $624.71 million, and $189.22 million recorded in the corresponding quarters of 2024.

This withdrawal of investment from the manufacturing sector carries significant implications for the future of Nigeria's industrial landscape. Experts warn that the decline could lead to job losses, reduce production capacity, and hinder economic growth. As the government continues to promote an environment for investment, the pressing question remains on how to restore investor confidence in the manufacturing industry and reinvigorate its performance in a rapidly evolving economic climate.