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Lagos, Lagos State – By Prime Brief Media

The Lagos Chamber of Commerce and Industry has called on the federal government to urgently tackle the bottlenecks stifling the manufacturing sector, warning that continued neglect could undermine job creation and economic diversification.

In a statement released on Sunday and signed by its President, Leye Kupoluyi, the LCCI highlighted the paradox that, despite contributing N1.17 trillion in Value Added Tax in 2025—accounting for a significant share of non-oil revenue—the manufacturing sector is burdened by multiple structural challenges that limit its growth.

“The manufacturing sector remains one of the most potent drivers of sustainable economic growth, with immense capacity to create massive employment, stimulate innovation and lift millions out of poverty. However, the sector is severely constrained by poor electricity supply, inadequate transport infrastructure, multiplicity of taxes and levies, and port congestion,” Kupoluyi stated.

The Chamber noted that electricity costs alone constitute up to 40 percent of production expenses for many manufacturers, while delays at ports and inefficient logistics add further layers of uncompetitiveness. It urged the government to prioritise the revitalisation of key industrial clusters, accelerate the metering programme for manufacturers, and implement a harmonised tax regime to reduce the burdens of multiple taxation.

The LCCI President also warned against the temptation to fund government expenditure through excessive taxation of the productive sector, saying such a strategy would be counterproductive. “You cannot tax growth into existence. We must create an enabling environment that allows industries to thrive, not one that pushes them into survival mode,” he said.

The statement welcomed recent monetary policy measures but insisted that a stable macroeconomic environment, including lower interest rates and a stable exchange rate, was essential for the manufacturing sector to realise its potential. The LCCI announced it would hold a major industrial policy roundtable later this month to present specific reform recommendations to the government.

Prime Brief Media will report on further economic indicators and official responses as they become available.

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