Sustainable policies reason for GDP growth —Experts
This was hardly the most hospitable condition for a new government. President Muhammadu Buhari, who took office in May of that year, found that his promise to reform the economy and boost infrastructural development, as contained in the “Change” manifesto of his government, faced a mile-high odd. The nation’s coffers were virtually bare; inflation had climbed to 9.6% by in December 2015, according to the National Bureau of Statistics (NBS).
Today, the manufacturing sector is contributing less than 9% of the Nation’s Gross Domestic Products (GDP). It is not good enough. In countries that are not as developed as Nigeria, we have seen higher rates of contribution by the manufacturing sector to such country’s GDP. For any country to be considered as industrialized, the manufacturing sector being the productive sector that produces the goods that generate value and create wealth, must be contributing significantly to the growth of the economy.