Key Points

• MAN wants a refinancing facility giving manufacturers single-digit loans for up to seven years.

• The association urges lower interest rates, stable gas pricing, and coordinated regulations to cut costs.

• Public dashboards, tax incentives, and a N1 trillion stabilisation fund will boost transparency and attract investment.

Nigeria’s manufacturing sector could see a boost in 2026 if targeted financial support and government policy are delivered effectively, the Manufacturers Association of Nigeria (MAN) says.

In its 2026 outlook, MAN proposed the creation of a Manufacturing Refinancing and Rediscounting Facility (MRRF).

According to Director General Segun Ajayi-Kadir, the facility would allow commercial banks to refinance manufacturing loans at single-digit interest rates for tenors of up to seven years, easing the pressure of high borrowing costs on local industries.

Tackling Costly Credit

Businesses still have a huge problem with high borrowing rates. MAN thinks that the benchmark interest rate should be cut by another 200 to 300 basis points over the next two quarters to make loans easier to get.

The group claims that making it easy for people to access loans with low interest rates might lead to greater investment, more production, and a stronger industrial base in Nigeria.

Greater Transparency And Monitoring

Ajayi-Kadir also told the government to make a public dashboard that shows lending flows, interest rate spreads, loan approvals, and sectoral disbursement patterns in real time.

The bill’s purpose is to make funding more responsible so that producers get their money quickly.

Policy And Regulatory Support

Another thing that is important to MAN is making sure that the Nigeria Industrial Policy is followed correctly. The group wants

• A National Manufacturing Regulatory Coordination Desk to make sure that all agencies follow the same regulations for approvals, inspections, and compliance.
• Manufacturers are put into groups based on how much gas they use. They get stable prices and priority supply for domestic output.
• Tax advantages and incentives for persons and businesses that buy things made in their area.
• A tax review unit of the Ministry of Finance to keep an eye on how new tax systems change the cost of conducting business, investing in manufacturing, and how well small and medium-sized firms do.

Stabilisation Fund And Credit Expansion

Ajayi-Kadir said that a stronger naira, lower inflation, and lower interest rates might help manufacturing do well.

However, the government needs to act swiftly and correctly for the industry to do well in 2026.

These concepts are aimed to help Nigeria, whose manufacturing makes up a minor part of GDP, become less dependent on imports, build up its industrial capacity, and make its goods more competitive.