Manufacturing added $40bn to GDP in 20yrs — Minister | Dailytrust

Manufacturing added $40bn to GDP in 20yrs — Minister

The Minister of Industry, Trade and Investment, Otunba Niyi Adebayo

The Minister for Industry, Trade and Investment, Otunba Niyi Adebayo has said the manufacturing sector contributed over $40 billion to the Gross Domestic Product (GDP) in the last 20 years.

Adebayo stated this during the 50 years anniversary of the Manufacturers Association of Nigeria (MAN) in Abuja at the weekend.

He described the manufacturing sector as the engine room of Nigeria’s GDP as well as the backbone of Nigeria’s employment sector, as it currently employs about seven million Nigerians.

“It has achieved increased total output by over $40 billion in the last 20years in addition to employing close to 7million people among other landmark achievements.”

President of MAN, Engineer Mansur Ahmed said, “Today, MANs membership strength is over 2,500 which comprises the multinationals, large corporations, small and medium scale industries,” Ahmed.