Manufacturers Association of Nigeria
Nigeria’s local capacity utilisation nosedived further by 5.6 per cent in the second quarter, showing the economy’s ability to create jobs is getting increasingly weaker.
• Poor infrastructure, FX scarcity, credit crunch are pain points The Manufacturers Association of Nigeria (MAN) has expressed worry over the country’s bloated debt profile, saying as of December 2022 had increased by 17 percent from the record of December 2021. Director-General, MAN, Segun Ajayi-Kadir, lamented that in the absence of commensurate infrastructural development and…
A report by the World Bank, said businesses in Nigeria suffer a yearly loss of $29 billion as a result of unreliable power supply – a development that continues to cripple both private and public investments in the country.
The Manufacturers Association of Nigeria (MAN) has condemned the proposed increase by 40 per cent in electricity tariff from July 1, 2023, describing it as outrageous, adding that the move could sound the death knell for many small and medium-sized enterprises (SMEs) in the country.
The Manufacturers Association of Nigeria (MAN) has commended President Bola Tinubu’s industrial policy to utilise the full range of fiscal measures to promote domestic manufacturing and lessen import dependency.
The Manufacturers Association of Nigeria (MAN) has hailed the decision of Federal Government to suspend the proposed hike in excise duty on beer, wines and spirits, tobacco and non-alcoholic beverage later this year, noting that the decision will bring succor to the operators.
Local manufacturers have raised concerns about the size of loans given to the manufacturing sector by commercial banks, describing it as inadequate and one that does not encourage productivity in the sector.
High operating expenses in some industrial zones, especially those in Rivers/Bayelsa and Cross-Rivers/Akwa-Ibom zones continue to depress manufacturing sector indices below the benchmark points, raising concerns for productivity and employment generation.
Manufacturing firms can see energy cost savings of 30 per cent switching to gas when compared to grid supply and as much as 80 percent on diesel costs, Clarke Energy has said.
The Lagos Chamber of Commerce and Industry (LCCI) has advocated sustained intervention in the nation’s manufacturing and productive sectors to enhance growth, improve productivity and hedge risks from inflation.
14 Dec 2022
Worried about limited access to raw materials, local producers have urged the government to unveil incentives that will encourage and deepen local raw materials sourcing, especially in the form of backward integration.
20 Nov 2022
The carbonated soft drinks sub-sector of the Manufacturers Association of Nigeria (MAN) has cried out to the Federal Government over the proposed increase in ad-valorem excise tax on