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MANUFACTURERS ASSOCIATION OF NIGERIA
Africa’s richest man, Aliko Dangote, has recounted the challenges his venture faced in Nigeria’s textile industry during the boom of the 1960s, resulting in his company losing billions of naira in investment.
The Manufacturers Association of Nigeria (MAN) has warned that the continued abductions of company executives could undermine confidence in the Nigerian economy.
Mr. Segun Ajayi-Kadir has said that between 56% and 60% of the association’s members in the North-East Nigeria have been shut down by insecurity in the region.
MAN has projected a tough start to 2024 for the manufacturing sector but expects improvements towards the third quarter.
Former Minister of Finance and Trade, Mr Olusegun Aganga says Nigeria has been de-industrializing for the past 8 years since 2015.
Diesel costs are affecting operational expenses for Nigerian manufacturers are their unsold goods for 2022 reach N469.66 billion.
The Manufacturers Association of Nigeria (MAN) has urged the Federal Government to dialogue with the NLC on its planned strike action and picketing of CBN offices nationwide over the lingering cash scarcity.
Manufacturing growth output fell from 5.8% in the first quarter of 2022 to 3.0% in the second quarter
Fear of a dollar shortage has driven manufacturers to front-load their inventory requirements, creating the illusion of economic growth in Nigeria.
MAN has urged the CBN to direct commercial banks to process FOREX allocation applications by manufacturers transparently.
The CBN has urged the manufacturers to approach the development financing institutions for their funding needs.
MAN has asked the federal government to issue its members licenses to import diesel from neighbouring countries...