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Tag: MAN

Business

MAN proposes financial, policy measures to boost manufacturing

The Manufacturers Association of Nigeria has urged the establishment of a Manufacturing Refinancing and Rediscounting Facility, alongside a series of broad financial and policy measures, to rejuvenate the nation’s manufacturing sector in 2026. In its 2026 manufacturing outlook report, MAN’s Director General, Segun Ajayi-Kadir, stated that the proposed facility would allow commercial banks to refinance […]

Business

High lending costs strangling manufacturers — MAN

The Manufacturers Association of Nigeria is calling on the Central Bank of Nigeria to cut interest rates, arguing that the current high cost of borrowing is crippling the manufacturing sector. While MAN acknowledged the CBN’s recent decision to hold the benchmark Monetary Policy Rate at 27 per cent, it described the lending environment as “punitive,” […]

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Prioritise local firms in Lagos airport fencing, MAN tells FG

The Manufacturers Association of Nigeria has called on the Federal Government to prioritize indigenous producers in the supply of fencing materials for the Lagos airport perimeter fencing project, cautioning against the importation of Clear Vu fencing. In its statement, MAN praised the government’s infrastructure drive but emphasized that the procurement process for the Murtala Mohammed […]

News

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 […]

News

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, […]

News

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
News

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 […]

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