MAN confirms Vanguard Newspaper data showing N1.9trn decline in credit to manufacturers (opens original article in a new tab)

Manufacturers Association of Nigeria (MAN) reports a 22.5% decline in bank credit to manufacturers, attributing it to high interest rates, restrictive policies, and stalled financial interventions, which could hinder industrial growth and economic diversification.

• Manufacturers Association of Nigeria (MAN) highlights 22.5% contraction in bank credit to manufacturers, from N8.53trn in 2024 to N6.61trn in 2025
• High lending rates (up to 35.6%) and restrictive policies like high Cash Reserve Ratio (45-50%) are cited as key factors behind credit decline
• MAN warns credit squeeze could harm industrial growth, increase unemployment, and worsen reliance on imports