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Tag: MAN

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MAN warns 15% port charge hike will fuel inflation

The Manufacturers Association of Nigeria has criticized the proposed 15% increase in port charges, warning that it will raise production costs and worsen inflation. This follows the hike last week by the Nigerian Ports Authority, citing the need to improve competitiveness and infrastructure. In a statement released on Sunday, MAN’s Director General, Segun Ajayi-Kadir, argued […]

News

Miners warn FG’s rate hike could drive them out of business

The Miners Association of Nigeria has strongly criticized the federal government’s recent increase in mining rates and royalties for solid minerals, warning that it could drive local miners out of business. MAN’s National President, Dele Ayankele, expressed these concerns in response to the hike reported by the News Agency of Nigeria. He emphasized that stakeholders […]

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North-East manufacturers shut down due to insecurity – MAN

The Director General of the Manufacturers Association of Nigeria, Mr. Segun Ajayi-Kadir, has revealed that between 56% and 60% of businesses of the association’s members in North-East Nigeria have been shut down by insecurity. This was disclosed by Ajayi-Kadir during an interview on Channels Television on Saturday. Ajayi Kadir complained that insecurity has hurt businesses, […]

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Multiple tax threatening participation in AfCFTA – MAN

The Manufacturers Association of Nigeria has said that multiple taxation is exerting influence on the operations of manufacturers in the country and their participation in the African Continental Free Trade Area agreement. This was disclosed by the Director General of MAN, Segun Ajayi-Kadir, at the closing of the 26th Annual Tax Conference of the Chartered […]

MAN calls for regulations to protect manufacturers, consumers
News

MAN calls for regulations to protect manufacturers, consumers

The Manufacturers Association of Nigeria is calling for fair regulatory frameworks to protect the interests of both consumers and manufacturers. Ajayi-Kadir, the Director General of MAN, emphasized the importance of equitable protection for both parties in light of a recent social media incident involving Erisco Foods and a dissatisfied customer, Mrs. Chioma Egodi, who criticized […]

Manufacturers warn price hikes to persist without solutions
Business

Manufacturers warn price hikes to persist without solutions

Manufacturers Association of Nigeria says product price increases are unlikely to halt in the absence of a corresponding plan to reduce the skyrocketing costs of manufacturing. This was said by the association’s director-general, Segun Ajayi-Kadir, during a recent media debate with reporters according to The PUNCH. The MAN DG bemoaned the regular increases in the […]

FX payments rose to $1.3bn in February - CBN
Economy

Factories may shutdown if FX crises persists – MAN

By Melvin Onwubuke The Manufacturers Association of Nigeria has said that many factories may shutdown operations amidst the lingering foreign exchange crises. This follows the statement of the Director General, Mr Segun Ajayi-Kabir in a recent interview on AIT. He disclosed that manufacturers could not access up to 20 per cent of their forex needs […]

Musk to resign from Trump govt amid backlash, Tesla shares crash
Tech

Elon Musk loses World’s richest man title

Luxury goods maker, Bernard Arnault has surpassed Elon Musk to claim the title of the world’s wealthiest person, Forbes reports. The founder and CEO of LVMH, a global luxury goods company encompassing brands like Louis Vuitton, saw his family’s net worth soar to $207.8 billion, marking a $23.6 billion increase on Friday. In contrast, Tesla […]

Dangote refinery urges NUPENG, PTD to resolve conflict
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Dangote reclaims top spot on Forbes as Africa’s richest man

Forbes Real-Time Billionaires has reported that Nigerian entrepreneur and philanthropist, Aliko Dangote, has restored his title as Africa’s richest person. This is coming after a South African business billionaire, Johann Ruper, surpassed Dangote as Africa’s richest man last week. According to the January 8 ranking, Dangote’s net wealth increased by $10 million to $10.1 billion, while Rupert’s net worth was $10 […]

S'African billionaire dethrones Dangote as Africa’s richest man
Business featured News

S’African billionaire dethrones Dangote as Africa’s richest man

Johann Rupert and family have emerged as the richest man in Africa, dislodging Aliko Dangote as the continent’s wealthiest man in a list released by Forbes Magazine. Nigerian billionaires; Rabiu Abdulsamad and Mike Adenuga have lost their spots in the billionaire rankings released by the financial magazine In the list, the Forbes Daily billionaires ranking […]

Manufacturers warn price hikes to persist without solutions
Business

Manufacturers cut back on purchase orders over economic crisis

The President of the Manufacturers Association of Nigeria’s Chemical and Pharmaceutical sector, Rotimi Aluko, has stated that the challenging business climate in the country has compelled certain manufacturers to cease operations, while others have been forced to reduce procurement orders. According to The Punch, he revealed this during the group’s Tuesday annual general meeting in Lagos. […]

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Nigeria is finished if manufacturing sector dies, MAN warns

    The Manufacturers Association of Nigeria has criticized the Federal Government’s decision to lift a ban on the importation of 43 specific items into the country, a move previously restricted by the Central Bank of Nigeria for eight years. These items encompass essentials such as rice, cement, margarine, palm kernel, palm oil products, vegetable […]

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