Director-General of MAN, Segun Ajayi-Kadir, disclosed this in the 2025 annual report of the association released recently, attributing the surge in investment to aggressive backward integration and expansion of local production capacity by manufacturers.

According to him, the investment drive reflects efforts by manufacturers to reduce their exposure to foreign exchange illiquidity, while strengthening domestic supply chains and improving operational efficiency amid rising production and distribution costs.

A half-yearly breakdown of the figures showed that manufacturing investment rose to N764.07 billion in the second half of 2025, from N567.82 billion in the first half, representing a 34.56 per cent increase.

Ajayi-Kadir also highlighted manufacturers’ growing investment in distribution infrastructure, particularly the acquisition of their own vehicle fleets to manage rising energy costs and third-party haulage charges.

With transportation and logistics expenses mounting, he said, manufacturers were increasingly investing in their own fleets to exercise greater control over distribution costs and protect their margins.