MAN Seeks Preferential Forex Allocation       The Manufacturers Association of Nigeria (MAN) has called on the Federal Government to ensure that adequate foreign exchange (forex) is allocated to the manufacturing sector through a preferential arrangement to enable the sector import raw materials and machinery that are...

Petrol Price Hike Inevitable, Says MAN       The Manufacturers Association of Nigeria says increase in the price of petrol is inevitable. The Director General of MAN, Segun Ajayi-Kadir, stated that regardless of the arguments around subsidy removal and the potential effect on the cost of production and...

COVID-19, Forex Forced 415 Firms Out Of Production – MAN       The foreign exchange restriction by the Central Bank of Nigeria and the COVID-19 pandemic forced 415 companies to stop manufacturing in the last one year, the Manufacturers Association of Nigeria has said. The Director-General, MAN, Mr...

'Manufacturers Spend Over N143bn On Alternative Electricity Supply'       Manufacturers in Nigeria, in the last two years, 2019 to 2020, spent about N143.29 billion on alternative power supply, says the Manufacturers Association of Nigeria (MAN). MAN said members in 2020 spent N81.91 billion on alternative power as...

Local Production Value Falls By N5.02trn Amid N577.61bn Unsold Goods       Local manufacturers have decried the rising level of inventory, especially for unsold manufactured goods, adding that declining disposable income of consumers, as well as rising inflation, have worsened the woes of producers. With the economy witnessing...

Naira Depreciation Weakens Manufacturing Production - MAN       Notwithstanding the challenges of access to foreign exchange (forex) for importation of raw materials, local manufacturers have stated that a favourable exchange regime and a stronger currency, presents a good omen for improving manufacturing production. According to the Manufacturers...