Weak Purchasing Power Pushes Unsold Goods to N1.24trn, MAN Reveals The Manufacturers Association of Nigeria (MAN) has stated its unsold manufactured goods have reached a record N1.24tn, as its unsold inventories increased by 357.57 per cent in the first half of 2024. MAN attributed this sharp...

We Lost N1.5trn To FX Crisis In Six Months – MAN The Manufacturers Association of Nigeria (MAN) has said that its members have lost at least N1.5tn in the last six months to forex-related transactions. The Director-General of MAN, Segun Ajayi-Kadir, made the disclosure in an...

Naira Depreciation: Manufacturers Plan General Price Hike   Manufacturers have predicted fresh hikes in the prices of commodities in the market to rise in response to the continued fall of the naira against the United States dollar. On Friday, the naira plunged to N1,420/$ at the parallel...

Manufacturers Spent N119bn To Generate Power In Nine Years   Expenditure by manufacturers on alternative energy sources (excluding power from distribution companies) jumped by 82 per cent, from N25bn in 2014 to N144bn in 2022. This is according to data collated from the annual and bi-annual reports...

More Multinational Companies May Exit Over Electricity Tariff - MAN   The Manufacturers Association of Nigeria (MAN) has warned that implementation of the proposed hike in electricity tariff by power distribution companies may force more multinational companies to relocate their factories outside Nigeria. President of MAN, Francis...

Excise Duty Hike: Manufacturers Lament Crises,  Threaten Shutdown The Manufacturers Association of Nigeria says the recent increase in excise duty for beverage and tobacco goods will force businesses to scale down operations, which will result in factory closures, job losses, a decline in exports among...