Nigeria Roundup: Food security drive, ECOWAS deployment, manufacturing concerns

Nigeria deploys 86 troops to support ECOWAS mission in Guinea-Bissau

Nigeria has deployed 86 military personnel to the ECOWAS Stabilisation Support Mission in Guinea-Bissau (ESSMGB), reaffirming its role as one of West Africa's leading security contributors. The deployment is intended to support constitutional order, strengthen regional stability, and assist Guinea-Bissau's security institutions amid ongoing political uncertainty. Nigerian military authorities said the contingent had completed pre-deployment training before departing for the mission. The move underscores Abuja's continued commitment to ECOWAS peacekeeping operations, which have long been central to Nigeria's regional foreign policy.

AfDB warns West Africa misallocates capital despite $100 billion annual development needs

The African Development Bank (AfDB) has warned that West Africa continues to misallocate investment capital even though the region requires roughly US$100 billion every year to finance critical infrastructure and economic development. The warning has significant implications for Nigeria, Africa's largest economy, where infrastructure deficits continue to constrain industrial growth, logistics and competitiveness. The Bank argues that mobilising private investment, improving project preparation and strengthening public financial management will be essential if countries are to close infrastructure gaps and accelerate inclusive growth. The report also stresses that better capital allocation could unlock faster economic transformation across the region.

Manufacturers warn Nigeria's industrial sector is under mounting pressure

The Manufacturers Association of Nigeria (MAN) has warned that many manufacturers are struggling to remain competitive as businesses face high borrowing costs, energy shortages, foreign exchange constraints and rising production expenses. Industry leaders argue that despite ongoing economic reforms, manufacturers continue to battle declining purchasing power, logistics costs and expensive credit, making expansion increasingly difficult. They are calling for targeted government intervention, including improved electricity supply, lower financing costs and policies that encourage domestic production. Analysts warn that sustained pressure on manufacturers could affect employment, exports and Nigeria's industrialisation agenda.

Government targets $4.4 billion investment through Special Agro-Industrial Processing Zones

The Federal Government says Nigeria's Special Agro-Industrial Processing Zones (SAPZ) programme is expected to attract US$4.4 billion in investment while generating stronger value chains for agriculture and agro-processing. Officials say the initiative is designed to move production closer to farming communities, reduce post-harvest losses, increase food processing capacity and create jobs in rural areas. The programme is backed by development partners including the African Development Bank, with authorities expecting the zones to improve food security, increase exports and reduce dependence on imported processed foods. The government believes agro-processing will become a major pillar of Nigeria's economic diversification strategy.

IMF projects Nigeria's economy to grow 4.1% in 2026 despite global slowdown

The International Monetary Fund (IMF) has projected that Nigeria's economy will grow by 4.1% in 2026 and 4.3% in 2027, outperforming expected global growth despite continuing geopolitical tensions and inflationary pressures. The IMF said Nigeria's outlook reflects improving macroeconomic reforms, although it cautioned that maintaining growth will require sustained fiscal discipline, stronger investment, structural reforms and efforts to reduce poverty. The projection comes as Nigeria continues implementing reforms in the foreign exchange market, public finances and energy sector while seeking to attract greater domestic and foreign investment.