Reps Raise Alarm Over Industry Collapse, Demand ₦350m To Rescue Manufacturing Sector
The House of Representatives has called on the Federal Government to allocate ₦350 million in the 2026 budget to revive moribund industries and support small and medium-sized enterprises (SMEs) across the country.
The resolution followed the adoption of a motion moved by Hon. Akarachi Amadi, representing Mbaitoli/Ikeduru Federal Constituency of Imo State, who lamented the collapse of several formerly thriving industries due to poor power supply, high interest rates, and decaying infrastructure.
He warned that the situation has led to massive job losses, rising unemployment, and economic decline.
Citing data from the National Bureau of Statistics (NBS), Amadi noted that Nigeria’s unemployment rate had climbed from 25 percent in 2022 to over 40 percent in 2025, largely due to the shutdown of key manufacturing companies.
He added that the closure of industries has forced the country to rely heavily on imported goods, causing capital flight, weakening the naira, and worsening inflation.
“The moribund state of our industries has made us dependent on imported products, which drains our foreign reserves and worsens our exchange rate. This collapse has also contributed to insecurity, kidnapping, and other social vices as many jobless youths turn to crime,” Amadi stated.
The lawmaker identified several inactive industries across the six geopolitical zones, including the Katsina Steel Rolling Mill, National Paper Manufacturing Company in Ogun, Standard Shoe Industry Limited in Imo, Taraba Tomato Processing Company, Idah Glass Company in Kogi, and the Cross River Wood Processing Plant.
He also warned that some manufacturers are relocating to neighbouring countries like Ghana due to Nigeria’s poor infrastructure and high operational costs.
Amadi stressed that reviving major industries such as the Osogbo Steel Rolling Mill, Osogbo Machine Tools, and the Ceramic Industry in Umuahia would help boost local production, create jobs, and reduce the nation’s dependence on imports.
Following the motion’s adoption, the House urged the Federal Ministry of Industry, Trade, and Investment to make provision for ₦350 million in the 2026 national budget to initiate the revival of these dormant industries and strengthen the nation’s manufacturing base.
Sodiq Lawal is a passionate and dedicated journalist with a knack for uncovering captivating stories in the bustling metropolis of Osun State and Nigeria at large. He has a versatile reporting style, covering a wide range of topics, from politics , campus, and social issues to arts and culture, seeking impact in all facets of the society.
