Nigeria presents considerable potential to return high yields on investment in manufacturing segments. While the discovery of hydrocarbons and rising crude prices created a dependence on export receipts and tax revenues and marginalized industry’s development, the crash of the global oil market in 2014 helped to refocus public policy on economic diversification and non-oil industries. A series of recent policy documents have set ambitious goals for sector development and outlined discrete, actionable strategies to match those ends. Critically, the administration has introduced a range of incentives to launch and broaden activities in various manufacturing segments, including agro-processing, biofuels, cement and automobiles. Although manufacturers have struggled recently with currency volatility, a chronic foreign exchange (forex) shortfall, and gaps in water, transport and electricity distribution systems, these incentives, as well as a planned surge in public spending on infrastructure, should help to accelerate investment and growth across a range of industrial activities.
Limult Group has made so much great impact in the revival of industrial development in Nigeria through the outstanding services they provide in the Agro sector, oil and gas sector and in the construction industry.
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