- Tinubu To Address Nigerians Today As FG Declares Public Holiday To Commemorate Event
- Despite Uninterrupted Democracy, Nigeria’s Manufacturing Sector Stuck In Low Gear, Says CPPE
The African Democratic Congress, ADC, he disclosed thatJune 12 remains one of the most significant dates in Nigeria’s political history and democratic journey.
In a Democracy Day statement issued on Thursday in Abuja, the party’s National Publicity Secretary, Mallam Bolaji Abdullahi, said June 12 symbolised Nigerians’ enduring democratic aspirations.
He said the date reflected the belief that citizens’ voices matter, their votes count and governments derive legitimacy from the people.
“June 12 remains one of the most important dates in our nation’s political history and a reminder that government derives legitimacy from the governed,” he said.
Abdullahi, however, said Democracy Day should not only be a time to celebrate past struggles but also an opportunity to assess the country’s democratic progress.
According to him, democracy should be measured not by the number of years under civilian rule but by improvements in citizens’ welfare, freedoms and opportunities.
The ADC spokesman said persistent insecurity, economic hardship and declining public confidence in institutions continued to pose challenges to Nigeria’s democratic development.
He noted that rising costs of food, transportation, healthcare, housing and education had placed immense pressure on households and businesses.
“Our young people should be driving national growth and renewal, but many are struggling to find opportunities and hope within the country,” he said.
He added that the party rejected the notion that insecurity, poverty and economic hardship were inevitable, insisting that effective governance could reverse the trend.
“We believe security must be intelligence-led, technology-enabled, community-informed and locally responsive if Nigeria is to achieve lasting peace,” he stated.
Abdullahi said the ADC’s vision prioritised economic reforms aimed at reducing the cost of living, supporting businesses and improving the standard of living of Nigerians.
He added that the party would promote transparency, accountability, food security and institutional reforms to restore public confidence in democratic governance.
“We believe government must once again be judged by results, not speeches, excuses or headlines, but by the wellbeing of Nigerians,” he said.
The party congratulated Nigerians on Democracy Day and urged citizens to remain committed to building a more secure, prosperous and accountable democratic society.
Meanwhile, President Bola Ahmed Tinubu will deliver a nationwide broadcast on Friday, June 12, as Nigeria marks this year’s Democracy Day celebration.
According to a statement issued on Thursday by the President’s Special Adviser on Information and Strategy, Bayo Onanuga, the national address is scheduled to be aired at 7:00 a.m. on the network services of the Nigerian Television Authority (NTA) and Radio Nigeria.
The Presidency said the broadcast forms part of activities lined up to commemorate Democracy Day, a national holiday observed annually to celebrate Nigeria’s democratic journey and honour the struggle for democratic governance.
The statement also directed all television and radio stations across the country to hook onto the NTA and Radio Nigeria networks to carry the President’s address live.
“President Bola Ahmed Tinubu will deliver a national address on Friday, June 12, in commemoration of Democracy Day,” the statement read.
“The speech is scheduled to air on the network of Nigerian Television Authority (NTA) and Radio Nigeria at 7:00 a.m.”
The Presidency urged Nigerians to tune in to the broadcast as the President addresses the nation on the significance of Democracy Day and issues of national importance.
Democracy Day is celebrated annually on June 12 in remembrance of the June 12, 1993 presidential election, widely regarded as the freest and fairest in Nigeria’s history.
The Federal Government of Nigeria has declared Friday, June 12, 2026, a public holiday in commemoration of Democracy Day. The announcement was made by the Honourable Minister of Interior, Dr. Olubunmi Tunji-Ojo, on behalf of the Federal Government.
June 12 remains a significant day in Nigeria’s history in honour of the courage, resilience and sacrifices of Nigerians whose efforts made democratic governance possible in this country. Their legacy continues to inform the values and responsibilities of the Nigerian state.
The Honourable Minister reaffirmed the Federal Government’s commitment to the preservation of democratic ideals, including the rule of law, transparency, accountability and inclusive governance. The administration has pledged to uphold these principles without compromise.
The Ministry of Interior, in coordination with relevant security agencies, will continue to maintain and strengthen internal security measures to protect lives and property across the country. A secure and stable environment, the Minister noted, is essential to the health of any democracy and to the broader project of national development.
The Minister called on all Nigerians to observe the holiday as an opportunity for civic reflection, urging citizens to recommit to lawful conduct, responsible engagement and national unity.
“As we mark this historic day, every Nigerian is encouraged to remain law-abiding, uphold the institutions that sustain our democracy, and remember that the strength of any democracy lies ultimately in the character of its citizens,” the Minister said.
In a related development, the Centre for the Promotion of Private Enterprise (CPPE) has said that despite 26 years of uninterrupted democratic rule, Nigeria’s manufacturing sector remains trapped in a cycle of low growth, policy uncertainty and structural bottlenecks, with little evidence of the industrial transformation needed to power sustainable economic development.
In a Democracy Day assessment titled “Manufacturing Under Democracy: A Story of Resilience Amid Structural Adversity,” CPPE Chief Executive Officer, Dr. Muda Yusuf, painted a sobering picture of an industry struggling to survive under the weight of crippling infrastructure deficits, high borrowing costs, inconsistent policies and rising import dependence.
According to Yusuf, the manufacturing sector’s contribution to Nigeria’s Gross Domestic Product (GDP) has stagnated at between nine and 10 per cent over the past two and a half decades, highlighting the country’s failure to achieve meaningful industrialisation despite numerous policy reforms and government interventions.
“Twenty-six years after the return to democratic governance, Nigeria’s manufacturing sector remains largely trapped in a low-growth equilibrium,” Yusuf said.
He stressed that industrialisation remains the foundation of economic transformation, job creation, export competitiveness and value addition, warning that Nigeria’s continued dependence on imports and primary commodity exports leaves the economy vulnerable to external shocks.
Refineries, Textile Mills, Auto Plants Collapse
The CPPE boss lamented what he described as the gradual erosion of Nigeria’s industrial capacity since the return to democracy.
He cited the collapse of the nation’s public refineries as one of the most glaring examples of industrial decline.
“What should have been strategic industrial assets became victims of poor governance, policy failures, weak accountability and entrenched rent-seeking,” Yusuf said.
He added that the deterioration of the refineries eventually led to their shutdown, stripping the country of a critical pillar of industrial development.
Beyond the petroleum sector, Yusuf noted that once-thriving industries have either disappeared or significantly declined.
“The story is similar across several manufacturing subsectors. Textile mills that once employed hundreds of thousands of Nigerians have largely disappeared. The tyre industry collapsed. Battery manufacturing faded. Automobile assembly plants lost momentum,” he stated.
According to him, many industrial clusters that once drove economic activities across the country have either contracted sharply or vanished entirely.
Dangote Refinery, Cement Industry Shine Amid Crisis
Despite the bleak outlook, Yusuf acknowledged a handful of success stories that have defied the odds.
He described the cement industry as one of Nigeria’s most remarkable industrial achievements and praised the resilience of the food and beverage sector despite operating under difficult conditions.
Most notably, he singled out the Dangote Refinery as perhaps the most transformative industrial investment in Nigeria’s recent history.
“The emergence of the Dangote Refinery represents arguably the most transformative industrial investment in Nigeria’s recent history,” he said.
According to him, the project demonstrates the scale of ambition required to reposition Nigeria as a manufacturing powerhouse.
However, Yusuf argued that these successes were driven largely by private-sector determination rather than government support.
“Many successful manufacturers have thrived not because conditions were favourable, but despite formidable policy, regulatory and infrastructural obstacles,” he said.
Power Crisis, Expensive Loans Choking Industry
The CPPE chief identified poor electricity supply as one of the biggest threats to industrial competitiveness.
“Manufacturers are compelled to self-generate energy at enormous cost, undermining competitiveness and eroding profitability,” he said.
He also pointed to decades of neglect in rail infrastructure, forcing businesses to rely heavily on costly road transport networks.
According to Yusuf, logistics inefficiencies continue to inflate production costs, weaken supply chains and reduce the competitiveness of locally made products.
The cost of borrowing, he added, remains another major obstacle.
“With lending rates frequently ranging between 25 and 30 per cent, manufacturers face borrowing costs that are among the highest in the world,” he said.
“No manufacturing economy can achieve global competitiveness when power is unreliable, logistics are inefficient and capital is prohibitively expensive.”
Policy Flip-Flops Scaring Investors
Yusuf also criticised successive governments for inconsistent industrial policies, warning that frequent shifts between protectionist measures and market liberalisation have discouraged long-term investments.
“Industries that receive policy support today often find themselves exposed to intense import competition tomorrow,” he noted.
He argued that policy inconsistency has weakened investor confidence and undermined industrial planning.
The situation, he said, is compounded by smuggling and an influx of cheaper imports from countries where manufacturers enjoy stronger government support and lower production costs.
“In many cases, the challenge is not the absence of policy but the absence of effective enforcement,” Yusuf stated.
Indigenous Manufacturers Losing Ground
The CPPE also raised concerns over the growing dominance of foreign-owned manufacturing companies, particularly firms from Asia.
While acknowledging the benefits of foreign direct investment, Yusuf warned that the shrinking footprint of indigenous manufacturers could weaken Nigeria’s long-term industrial capacity.
“An industrial ecosystem that increasingly relies on foreign ownership without simultaneously nurturing indigenous industrial champions risks weakening the foundations of sustainable industrial development,” he said.
Forex Reforms Offer Relief
Amid the challenges, Yusuf acknowledged recent gains from economic reforms, particularly improvements in foreign exchange market liquidity.
He noted that the severe forex crisis of 2022 and 2023 disrupted manufacturing activities, constrained imports of industrial inputs and forced many companies to cut production.
“The restoration of liquidity in the foreign exchange market has significantly improved manufacturers’ access to foreign exchange,” he said.
He also commended the government’s decision to grant import duty concessions on critical manufacturing inputs and machinery.
According to him, the tariff relief measures are helping to reduce production costs and improve industrial competitiveness.
Call For New Industrial Compact
Looking ahead, Yusuf called for what he described as a “new industrial compact” anchored on reliable power supply, modern rail infrastructure, affordable long-term financing and stronger local content policies.
He urged the government to prioritise procurement of locally manufactured products and ensure that executive orders promoting local content are fully enforced.
The CPPE boss also stressed the need to tackle insecurity, which he said has disrupted access to raw materials and weakened investor confidence across several manufacturing value chains.
“Countries become industrial powers by transforming their natural resource endowments into manufactured products, not by exporting raw materials and importing finished goods,” he said.
‘Industrialisation Is Economic Sovereignty’
Concluding the report, Yusuf warned that Nigeria’s ambition for economic prosperity would remain elusive unless the country decisively shifts from a consumption-driven economy to one centred on production and value addition.
“The future of economic prosperity lies not in what Nigeria imports, but in what Nigeria produces,” he declared.
“Industrialisation is not merely an economic aspiration; it is the foundation of economic sovereignty, sustainable prosperity and national competitiveness in the twenty-first century.”
The CPPE’s assessment comes amid renewed national conversations about economic diversification, local production and the urgent need to create jobs for Nigeria’s growing population, placing manufacturing once again at the centre of the country’s development debate.
