The Manufacturers Association of Nigeria (MAN) has reacted to the increase in petrol prices stating that Small and Medium Scale Enterprises would be particularly hard-hit projecting that SMEs across the country could scale down operations or completely shut down.
The Manufacturers Association of Nigeria (MAN) has asked the federal government to address the concerns raised by the organised private sector during the new minimum wage negotiation to enable them to implement the new minimum wage agreement.
The Director-General of the Manufacturers Association of Nigeria (MAN), Mr. Segun Ajayi Kadir, has stated that the recent 150 basis points increase in monetary policy rate (MPR) by the Central Bank of Nigeria (CBN) will further compound the already high cost of doing business in the country.
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.
