The cost of imported raw materials surged by 118 per cent to N6.64 trillion in 2024 alone due to the depreciation of the exchange rate, Manufacturers Association of Nigeria (MAN) has disclosed.

MAN Seeks CBN Intervention as Forex Dispute Worsens   The Manufacturers Association of Nigeria (MAN) has decried what it described as “unwholesome treatment” of its members by some commercial banks over unmet foreign exchange forward obligations, calling on the Central Bank of Nigeria to intervene as...

'Rising Inflation May Halt Interest Rate Reduction'   Members of the Organised Private Sector have expressed fear that the recent uptick in Nigeria’s inflation rate risks shattering initial hopes of a reduced interest rate. According to the National Bureau of Statistics, the country’s headline inflation rose to...

MAN Reports 35% Drop in Manufacturing Sector Investments   A report by the Manufacturers Association of Nigeria (MAN) has revealed that investments in the manufacturing sector contracted by 35.3 per cent in 2024. The sector endured a sharp contraction in real investment in the past year, as...

Manufacturers Push for DisCos Review Amidst Proposed Tariff Hike   The Manufacturers Association of Nigeria (MAN) has called on the Federal Government to review the performance of electricity distribution companies in light of their investment in distribution infrastructure, following reports of a planned increase in electricity...

MAN Calls for Electricity Tariff Reduction, Caution on GDP Rebasing   The Manufacturers Association of Nigeria (MAN) has reiterated its determination to push for a reduction in electricity tariffs while cautioning the Federal Government against politicising the planned Gross Domestic Product rebasing process. MAN’s leadership, during its...