• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News Business

Manufacturers’ confidence rises 0.7% to 54.6 points in Q2 2022 – MAN

William Ukpe by William Ukpe
July 26, 2022
in Business
Manufacturing sector in Nigeria and the reality of a "new normal"
Share on FacebookShare on TwitterShare on Linkedin

Nigeria’s Manufacturers’ confidence has risen by 0.7% to 54.6 points in the second quarter of the year compared to 53.9 points in the first quarter.

This was disclosed in the Manufacturers CEO’s Confidence Index (MCCI) report by the Manufacturers Association of Nigeria (MAN) on Tuesday, according to the News Agency of Nigeria.

The report measures the confidence and mood of manufacturing operators in Nigeria and their response to movements in the macroeconomy and government policies, using primary data mined through direct survey of over 400 Chief Executive Officers of MAN member-companies.

RelatedStories

Manufacturers Association of Nigeria (MAN) becomes institutional partner to agrofood & plastprintpack Nigeria 2025  

Manufacturers Association of Nigeria (MAN) becomes institutional partner to agrofood & plastprintpack Nigeria 2025  

March 11, 2025
Government Urged to Deliberately Subsidize Manufacturing in Nigeria for Economic Growth

Delay in Ajaokuta Steel takeoff reduces confidence in Nigeria’s Iron, Metal & Steel Industry- MAN 

February 19, 2025

What MAN is saying

MAN disclosed that the report attributes its increase in confidence to the anticipated improvement in business condition, employment condition, production level in the third quarter of the year and survival strategies adopted by manufacturers.

  • It added that the marginal increase was achieved despite many challenges facing the sector, including poor access to foreign exchange, unavailable raw materials, rising inflation, frequent collapse of the national grid, increase in price of diesel, scarcity of wheat and other manufacturing inputs.
  • “Business condition in the quarter under review was more challenging when compared with the first quarter of the year just as employment condition worsened.
  • “Nevertheless, the operating environment in the quarter under review was fairly better than the condition in the preceding quarter.
  • “This is due to compelling adjustments made by government, manufacturers and households in response to general increase in price, foreign exchange shortage, increasing cost of energy, scarcity of raw materials and many more, thrown up by the Russia-Ukraine war,” it said.

The index score of wood and wood products was 49 points in the second quarter of the year; a marginal uptick from 48.9 points obtained in the first half of the year, though below the 50 baseline points.

Meanwhile, the index score of electrical and electronics group improved to 50 points from 49.9 points, and motor vehicle and miscellaneous assembly moved above the baseline to 50.1 points from 49.2 points of the preceding quarter.

  •  “The aggregate MCCI score of 54.6 points shows that manufacturers still have minimal confidence in the economy, with the expectation of improvement in the operating environment.
  • “The business ambience in the second quarter was no doubt beset by numerous macroeconomic, regulatory and externally induced challenges, compounded by the lingering backlashes of COVID-19 pandemic and the ongoing Russian-Ukrainian war”
  • “It is, therefore, important for the government to intentionally create an anticipatory policy framework to facilitate automatic stabilisation of the economy in the event of domestic or global shocks while addressing the afore-mentioned familiar operating challenges limiting the performance of the sector,” MAN added.

What you should know

In the recently concluded Nairametrics Economic outlook webinar this month, Mr. Johnson Chukwu, MD of Cowry Asset Management Ltd, stated that the Nigerian government will have to focus on developing key sectors, including manufacturing, ICT and trade to grow the economy.


Follow us for Breaking News and Market Intelligence.
Tags: Cowry Assets Management LimitedJohnson ChukwuMANManufacturing Association of Nigeria
William Ukpe

William Ukpe

For further inquiries about this article contact: Email: william.ukpe@nairametrics.com or outreach@nairametrics.com. Twitter: @_sirwilliam_ @nairametrics.

Related Posts

Manufacturers Association of Nigeria (MAN) becomes institutional partner to agrofood & plastprintpack Nigeria 2025  
Companies

Manufacturers Association of Nigeria (MAN) becomes institutional partner to agrofood & plastprintpack Nigeria 2025  

March 11, 2025
Government Urged to Deliberately Subsidize Manufacturing in Nigeria for Economic Growth
Manufacturing

Delay in Ajaokuta Steel takeoff reduces confidence in Nigeria’s Iron, Metal & Steel Industry- MAN 

February 19, 2025
MAN, P&G
Manufacturing

Incessant electricity tariff hikes affecting performance of Nigeria’s manufacturing sector – MAN

February 6, 2025
MAN CEO
Economy

Manufactures record N1.4 trillion worth of unsold goods in 2024 due to inflation – MAN President  

January 22, 2025
MAN, P&G
Economy

GDP rebasing should not be used to “water down” Nigeria’s challenges – MAN DG advises 

January 22, 2025
MAN CEO
Manufacturing

High inflation, interest rates affected manufacturing sector’s performance in 2024 – MAN President 

January 16, 2025
Next Post
Minimum wage, NLC, Looting by former governors blocks excuses for new minimum wage 

NLC assures that nationwide protest would not lead to closure of businesses

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank
Zenth Bank








DUNS

Recent News

  • WAES: West Africa exported goods valued at over $166 billion in 2024 – Tuggar 
  • Heineken withdraws staff, suspends operations in Eastern DRC cities amid worsening rebel conflict 
  • Tariff relief triggers $2 billion investment in Nigeria’s digital infrastructure – Tayo Aduloju

Follow us on social media:

Recent News

Yusuf Tuggar, Nigerian military

WAES: West Africa exported goods valued at over $166 billion in 2024 – Tuggar 

June 21, 2025
Heineken launches mandatory takeover bid of Champions Breweries, offers to buyout remaining 15.3% equity stake

Heineken withdraws staff, suspends operations in Eastern DRC cities amid worsening rebel conflict 

June 21, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics