Nigeria Democratic Congress (NDC) presidential candidate Peter Obi has called for stronger collaboration between government and private-sector stakeholders to unlock the potential of Nigeria’s manufacturing industry.

Obi said Nigeria must move from a consumption-driven economy to one focused on production, job creation and global competitiveness.

The former Anambra State governor made the call after attending the inauguration of the newly installed President of the Manufacturers Association of Nigeria (MAN), Dr Eric Okoye, in Lagos, where he interacted with current and former leaders of the association.

Obi said targeted government policies and a more favourable business environment were necessary to increase manufacturing’s contribution to the nation’s gross domestic product (GDP).

“With the right government policies, an enabling business environment, and stronger collaboration between the public and private sectors, Nigeria can significantly increase the contribution of manufacturing to our GDP,” Obi stated.

He noted that manufacturing currently accounts for about 7.5 per cent of Nigeria’s GDP, which he said was below the contribution recorded in several other developing and emerging economies.

“Manufacturing currently contributes about 7.5 per cent of Nigeria’s GDP, compared with about 14 per cent in Egypt, 15 per cent in Morocco, 25 per cent in Vietnam, 19 per cent in Indonesia, and 20 per cent in Bangladesh,” he observed.

Obi called for a deliberate policy shift towards domestic production, job creation and increased competitiveness in international markets.

“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.

He said strengthening the manufacturing sector would also help address unemployment and reduce Nigeria’s dependence on imported goods.

“A stronger manufacturing sector will expand employment opportunities, strengthen our productive capacity, reduce our dependence on imports, increase exports, and improve the standard of living of our people,” he said.

Obi congratulated the new MAN leadership and reaffirmed his commitment to engaging key economic sectors in pursuit of sustainable national development.

“I congratulate the new President and his team and wish them a successful and productive tenure. I look forward to continued engagement with the manufacturing sector as we work towards building a more productive and prosperous Nigeria,” he concluded.