Why Nigeria’s service sector is outshining manufacturing

Nigeria's economic landscape presents a paradox: while the service sector flourishes, the real sector stumbles. This divergence underscores a deeper structural imbalance that raises critical questions about the country’s long-term economic stability. A recent BusinessDay report reveals that unsold finished goods in Nigeria’s manufacturing sector surged by an alarming 357.6 percent in the past year. This indicates a troubling trend—consumers are buying less, likely due to rising prices and declining purchasing power, leaving manufacturers wit