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Tag: MAN

Manufacturers warn price hikes to persist without solutions
Business

MAN urges manufacturers to adopt technology

The Manufacturers Association of Nigeria has urged the real-estate sector to embrace innovative and disruptive technologies in order to remain competitive. The Punch stated that this was recently revealed by the association’s president,  Francis Meshioye, during a press conference to kick off this year’s Nigeria Raw Materials and Manufacturing Equipment Expo. “We must harness these innovations to foster self-sufficiency in […]

Manufacturers warn price hikes to persist without solutions
Business

MAN laments increasing manufacturing costs

The Manufacturers Association of Nigeria has stated that the manufacturing industry is under severe threat from the increasing rise in production costs. The MAN President, Francis Meshioye, made this know on Wednesday during the its pre-Annual General Meeting press briefing in Lagos The 51st Annual General Meeting of the Association will be held in Lagos […]

African refiners to use single petrol grade by 2030 - ARDA
Business

African refiners to use single petrol grade by 2030 – ARDA

The Executive Secretary of the African Refiners and Distributors, Anibor Kragha, has stated that in 2023, all African refiners will be required to adopt a single fuel grade. According to The Times, he made this statement at the World Petroleum Congress which was recently held in Calgary, Canada. He claimed that ARDA is seeking to […]

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Alternative energy spending falls by 21% in H1 2023 – MAN

In contrast to the N76.70 billion invested in the second half of 2022, manufacturers’ investments in alternative energy sources fell by 21.1% in the first half of 2023, totaling N60.47 billion. According to The Times, it represented a 10.8% decrease from the N67.8 billion spent in the corresponding period in 2022. These figures were released […]

Manufacturers warn price hikes to persist without solutions
Business

How manufacturers spent $60bn on renewable energy in six months – MAN

The Manufacturers Association of Nigeria has stated that manufacturers spent at least N60.4bn on alternative energy sources in the first half of 2023. According to MAN’s recently released Half Yearly Economic Review, this is a 21.25 percent increase over the N76.7 billion spent on alternative energy during the same period last year. The increase in electricity […]

Manufacturers warn price hikes to persist without solutions
Business

How FG caused N285bn decline in raw material exports – MAN

The Manufacturers Association of Nigeria has stated that the government’s disregard for the productive sector is to blame for the N285 billion annual fall in Nigeria’s exports of raw materials. According to a National Bureau of Statistics examination of foreign trade statistics, exports of raw materials decreased to N345.5 billion in the first half of 2023 […]

Manufacturers warn price hikes to persist without solutions
Business

Cement sales drop 30% over naira redesign – MAN

The Manufacturers Association of Nigeria reported that at the height of the currency crisis earlier this year, cement sales decreased by 30%. According to The Punch, the group also claimed that a 20% decrease in consumer goods sales occurred during this time due to a lack of access to cash. MAN claimed that it described […]

Manufacturers warn price hikes to persist without solutions
Business

Manufacturing sector’s performance drops Q2 – Report

The manufacturing sector’s real GDP growth in the second quarter of 2023 was 2.20% on an annual basis. Although this was lower than the same quarter in 2022, it was higher than the previous quarter and the one before it by 0.81% points and 0.59% points, respectively. The sector saw a contraction with a growth […]

Manufacturers warn price hikes to persist without solutions
Business

MAN trains exporters on maximizing AfCFTA

  The Manufacturers Association of Nigeria, through its Export Promotion Group, has taught Nigerian exporters on how to capitalize on opportunities in the African Continental Free Trade Area. According to The Punch, it developed the capacity during a two-day workshop with the theme “Exporting under the AfCFTA” that was held in Lagos in cooperation with […]

How manufactured goods imports gulp $6.7bn in six months – Report
Business

Why manufacturers should embrace data-driven pricing – Stakeholders

Manufacturers and service providers have been urged to adopt a data-driven pricing model in order to maintain their competitive edge and navigate the shifts in the new unpredictable world. The Punch reported that stakeholders said this at the NielsenIQ Breakfast Conference with the theme “Navigating the New World of Uncertainty” held recently in Lagos. The stakeholders believe […]

Manufacturers warn price hikes to persist without solutions
Business

Manufacturers spent N119bn on electricity in nine years – MAN

Manufacturers’ Association of Nigeria has reported that manufacturers spending on alternative energy sources increased by 82% between 2014 and 2022,  from N25 billion to N144 billion excluding power from distribution companies. According to The Punch, this is based on information compiled from the Manufacturers Association of Nigeria’s annual and biannual reports. The documents state that manufacturers spent […]

AfCFTA: Intra-Africa exports to surpass $1trn by 2035 - Standard Chartered
Business

AfCFTA implementation begins as MAN trains exporters

The Manufacturers Association of Nigeria’s Export Group has trained local exporters as eight African countries begin exporting under the African Continental Free Trade Agreement’s Guided Trade Initiative. The Punch reported that this information was presented by the MANEG Chairman, Mrs. Odiri Erewa-Meggison, at a two-day training session for exporters on Tuesday in Lagos. The training […]

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