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Investors have been advised to channel their funds to the manufacturing sector, especially the agro-process, renewable energy and pharmaceutical industries among others. Experts described these industries as lucrative segments that will give investors desired returns. The advice was given by the Nigerian Economic Summit Group (NESG) in its Sectoral Reforms and Investments in Nigeria Report, which was seen by Nairametrics. The Group explained that Nigeria has numerous favourable conditions for investment, especially in its manufacturing sector. Some of the conditions listed include large arable land, strategic location in Africa, large market and opportunities presented by the AfCFTA. The NESG also highlighted that import-dependent manufactured and agricultural goods accounted for 72.5% of total import in 2020, and weak manufactured goods exports – share of manufactured goods to total exports was 7.7% in 2020.

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