Nigeria has been making big moves in manufacturing and producing things across all spheres of industries like cars, smartphones, cements and ships recently. This isn’t just good news for the country, it’s also making a positive impact on the economy. Let’s take a closer look at how these changes are happening and what they mean to Nigerian economical development.
In Nigeria, there are so many big companies that make things happen and control over 85% of Nigeria’s economy in terms of import and export. But, I will try to tailor this down to the top five big companies that make things happen.
Top 5 Big Players in Nigerian Manufacturing Industry
1. Dangote Group – Best in Cement
Dangote Group stands tall as one of the largest conglomerates in Africa and is involved in various industries including manufacturing. Founded by Aliko Dangote, the company produces goods like cement, sugar, salt, and more. Their manufacturing operations have contributed significantly to Nigeria’s economic growth.
In fact, the Dangote Group recently launched it’s refinery in May 22, 2023, in Lekki, Nigeria. When it’s fully up and running, this refinery is predicted to be able to process around 650,000 barrels of crude oil every day. This will make it the biggest refinery in the world, able to do this all in one go.
Trust me when I say that Dangote Group is a big deal in Nigerian economy.
2. IVM Company – Best in Cars
Ever heard of Innoson Motors? The Innoson Vehicle Manufacturing Company popularly known as the IVM stand tall as the top Nigerian company that makes cars and trucks. Before now, Nigeria used to import a lot of cars from other countries, spending a lot of money. But now, with companies like Innoson, Nigeria is making its own cars.
Innoson has been a trailblazer in Nigeria’s automotive industry. Their efforts have not only reduced the country’s dependence on imported vehicles but have also created job opportunities and showcased local manufacturing capabilities. This helps save money, creates jobs for people, and shows that Nigeria can make really cool things too.
3. AfriOne – Popular in Smartphones
Remember the time when all smartphones came from far-away places? Not anymore! Nigerian companies like AfriOne are making smartphones right here. They work just like the ones from other countries, but they’re made in Nigeria. It’s like having your very own local version of a global product.
AfriOne has established itself as a key player in the ICT and tech industry, contributing to Nigeria’s growing technology landscape while creating thousands of jobs and opportunities for the Nigeria youths and tech enthusiasts.
4. Nigerian Navy’s Way – Best in Ships
Think about the Nigerian Navy. They need ships to do their job. In the past, Nigeria used to buy ships from other countries. But now, Nigeria is building its own ships.
With this innovation, the Nigerian Navy has taken a unique path to enhance its capabilities. Instead of relying solely on buying ships from other countries, they have started building their own ships within Nigeria.
This strategy showcases their determination to become more self-reliant and proficient in producing essential assets for their operations which means that Nigeria is getting better at making important things on its own. It’s like showing the world that Nigeria is strong and can take care of itself.
5. Bua Group – Majors in Sugar & Flour
Another major player, Bua Group has interests in various sectors including cement, sugar, flour, and real estate. Their manufacturing endeavors have played a vital role in providing essential goods and contributing to Nigeria’s industrial development.
What’s the Impact? Good Things!
So, why does all of this matter? Well, when Nigeria makes its own cars, smartphones, cements and ships, it means less money is spent on buying them from other countries. This helps the economy grow because the money stays in Nigeria. Also, making these things create jobs for the people. More jobs mean more people have work and can earn money to support their families. It also enables the small businesses in Nigeria to gain more in business while spending less.
Nigeria is changing in a great way. Making cars, smartphones, cements, ships and even refining ots own oil within the country is a smart move. It helps the economy, gives people jobs, and makes Nigeria proud. As Nigeria keeps getting better at making things, it can become even stronger in the world. With this, the future looks bright for the country and its economy.
