From The Report: Nigeria 2023
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Transitioning from Africa’s largest economy to most industrialised one is contingent on its efforts to boost production, reduce its dependence on imports and drive the export trade. For those changes to materialise, manufacturers need reliable, affordable access to electricity and other vital infrastructure, while potential investors require attractive regulatory frameworks to inspire confidence and encourage market entry. The fact that the country’s top-performing manufacturing subsectors are not operating close to their full potential offers hope that with reformed policies in place, the sector’s untapped capacity can be mobilised and expanded to cater to the large, rapidly expanding consumer market. Developments in the petroleum and agro-production subsectors could also provide a platform for sustained and broad-based growth.
This chapter contains an interview with Seleem Adegunwa, Managing Director, Rite Foods.