Manufacturers in Nigeria have lamented that commercial bank credit allocation to the sector contracted by N1.92 trillion from N8.53 trillion in December 2024 to N6.61 trillion in December 2025, representing a significant year-on-year contraction of -22.5 per cent. Acting under the aegis of the Manufacturers Association of Nigeria (MAN), the group described the situation as…
Nigeria’s epileptic electricity situation is costing the economy more than $35billion (about ₦48 trillion) annually, according to a new economic brief released by financial expert and Director of Arthur Group, Martins Itua. The report blamed the losses to chronic power shortages, widespread reliance on self-generated electricity, disrupted business operations, damaged equipment, and post-harvest losses across…
The Minister of Marine and Blue Economy, Adegboyega Oyetola, has inaugurated the Governing Board of the Nigerian Shippers’ Council. The ceremony was held at the Minister’s Conference Room at the Ministry in Abuja. In his address at the event, Oyetola described the inauguration as a significant milestone in strengthening institutional governance and accountability within Nigeria’s…
Manufacturers have raised the alarm over Nigeria’s current average lending rate of 36.6 per cent, which they described as “high and restrictive.” They lamented that the asphyxiating lending rate of 36.6 per cent has forced a reduction in credit access to the manufacturing sector to N7.72 trillion as at March 2025, down from N8.53 trillion…
The Manufacturers Association of Nigeria (MAN) yesterday said the manufacturing sector is positively responding to the economic therapy of President Bola Tinubu. Its Chairman, for Oyo, Osun, Ondo, and Ekiti, Dr Sam Olawoye, said the sector is gradually recovering from recent economic shocks. He spoke during an interview in Ibadan while assessing the impacts of…
The Manufacturers Association of Nigeria (MAN) threw its weight behind the Federal Government’s proposed reform of free-trade zone operations in Nigeria. It said it will ensure equitable tax treatment for companies operating in the customs territory and those licensed to operate within the free zones with respect to sales into the customs territory, thereby enabling…
Manufacturing capacity utilisation contracted further by 0.8 per cent in the fourth quarter (Q4) of last year from the -1.3 per cent drop witnessed in the preceding quarter. Manufacturing investment also dipped by 1.2 per cent from 3.5 per cent contraction recorded in Q3 of the same period. Save for sales volume, which recorded a…
The Manufacturers Association of Nigeria (MAN), Nigeria Employers’ Consultative Association (NECA), former Senate President, Association of Small Business Owners of Nigeria (ABON), and others have rejected the 15 per cent hike in port charges. They urged the Federal Government and Nigerian Ports Authority (NPA) to rescind the decision to avert a further shutdown of businesses…
The Manufacturers Association of Nigeria (MAN) has called for the timely passage of the four tax reform bills currently before the National Assembly. MAN President Otunba Francis Meshioye said the outlook for the manufacturing sector, and by extension, the economy in 2025 will largely depend on the success of ongoing economic reforms, which include the…
