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Seplat Energy appoints Tony Elumelu as non-executive director

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Dangote, Indorama projects to position Nigeria as fertiliser export

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S'African billionaire dethrones Dangote as Africa’s richest man
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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 […]

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
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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 […]

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