10 Top Manufacturers in Nigeria Face N666bn Cost Challenge   The cost of sales for 10 manufacturing and consumer goods companies in Nigeria surged to N665.95bn in 2024, reflecting a 72.47 per cent increase from N386.16bn recorded in 2023. The company’s statement of profit or loss and other comprehensive...

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...

Forex Rate: Manufacturers, Importers, Others Bemoan High Costs   Importers, clearing agents and manufactures have cried out over the high foreign exchange (forex) rate in the country. It was in June, this year that the Central Bank of Nigeria (CBN) unified exchange rate windows to maintain Naira...

Manufacturers Incur Heavy Losses As Inflation, Forex Crisis Get Worse   In apparent reflection of the depreciation in the value of the Naira coupled with the sustained inflationary pressure, the cost of raw material input for consumer goods companies rose by 18.5 percent in the first...

In Six Months, Manufacturers Pay N607bn Tax – NBS Taxes paid by manufacturers in 2023 increased by 115 per cent from N192bn in the first quarter, to N414.5bn in the second quarter. A data collated from various Company Income Tax and Value Added Tax reports published...

Manufacturers’ Raw Material Imports Hit N8trn In Three Years   Manufacturers have spent at least N7.9tn to import raw materials in the past three years. According to manufacturers, the high raw materials imports bill is due to operators’ decision to source foreign exchange from the parallel market...