•Capacity utilisation rises to 61.3% in H1
By Yinka Kolawole
Manufacturers have called 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) from 50.3 points in the previous quarter (Q2’25), reflecting cautious optimism among industry leaders.
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 gauge of CEOs’ perceptions of the manufacturing sector and the overall economy.
Speaking at the event, MAN Director-General, Segun Ajayi-Kadir, said the modest 0.4-point rise marks the second consecutive quarterly increase, signaling a gradually improving outlook. “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, warned that the recovery remains fragile and could easily falter without deliberate, industry-friendly interventions.
Presenting the report, Dr. Oluwasegun Osidioe, MAN’s Director of Research and Economic Policy, noted that the manufacturing sector showed modest resilience, with capacity utilisation rising to 61.3 percent in the first half of 2025 from 57.6 percent in H2 2024.
He added that real output growth slowed slightly to 1.6 percent in Q2 2025, contributing 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, stressing the need to sustain policy consistency and protect exchange rate stability to consolidate the gains recorded so far.
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