The Manufacturers Association of Nigeria (MAN) has expressed serious concern over a significant reduction in bank lending to the manufacturing sector, totaling N1.92 trillion. This credit crunch poses a substantial risk to Nigeria’s industrialization goals as outlined in the Nigeria Industrial Policy (NIP) 2025. MAN warns the decreased access to finance could stifle industrial expansion and negatively impact employment rates within the country. The association highlighted the potential for the situation to derail ongoing efforts to strengthen the nation’s manufacturing base. This decline in credit availability represents a major obstacle for businesses seeking to invest and grow. MAN is urging stakeholders to address the issue to prevent further damage to the sector and the broader economy. The association’s Director-General, Segun Ajayi-Kadir, issued the statement outlining these concerns.