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Governments, households, and firms are grappling with an energy and cost-of-living crises that were exacerbated by the war in Ukraine. For Nigerian manufacturers, this was not the expectation at the beginning of the year, even though some of the challenges had lingered. With high inflation and rapidly tightening monetary policy however, local manufacturers are worried…
After weeks of relief, diesel prices appear to be on the rise again, partly in response to the volatility in the energy market over concerns about supply from Europe and unstable foreign exchange rates.
Local producers in the country have continued to groan under rising operational expenses; especially those triggered by scarce and fluctuating foreign exchange rates and higher energy prices.
Director-General of the Manufacturers Association of Nigeria (MAN), Segun Ajayi-Kadir, has commended the initiatives of the Mohammed Bello Koko-led management of the Nigerian Ports Authority (NPA) towards promoting exports of locally manufactured goods.
There is apparently no respite for the industries soon, as cost of diesel soared by 70 per cent in one year, even as the gas alternatives are lacking necessary infrastructure and enabling policies to sustain the crucial sector.
The Manufacturers Association of Nigeria (MAN) has urged the Central Bank of Nigeria (CBN) to extend the implementation of the E-invoice and E-evaluator initiatives by 90 days to accommodate inputs of the stakeholders.
20 Aug 2021
The Nigerian Customs Service (NCS) has concluded plans to carry out an inspection exercise of all automobile manufacturing and assembly plants currently operating in Nigeria.
14 Jul 2021
Backward integration is a well-known competitive strategy. By taking control of its supply chain, an organisation can bring down the costs as well as guarantee access to key materials.
16 Jun 2021
Measured by the Consumer Price Index (CPI), inflation indicates the broad-based level of prices of goods and services in an economy. Little wonder then that the figure is crucial to both economists and policy makers.
26 May 2021
Despite recovery from the negative growth recorded by the manufacturing sector last year, operators have expressed optimism about sustained momentum, urging the government to address...
20 Apr 2021
It’s double trouble for most Nigerian families, having to cope with the increasing number of dependents amid constant struggles with stagnant earnings and dwindling fortunes now punctured...
24 Feb 2021
Improvement in local manufacturers’ confidence in the economy as well as sectoral recovery, remains challenged by parlous state of infrastructure and poor implementation