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Tag: Manufacturers Association of Nigeria

Business

Manufacturers’ investment jumped 102.16% to ₦1.33trn in 2025 — MAN

Manufacturers’ drive to reduce dependence on imported inputs and foreign exchange pushed investment in the sector up by 102.16 per cent to ₦1.33 trillion in 2025, from ₦658.81 billion in 2024, the Manufacturers Association of Nigeria has said. Vanguard reported that the Director-General of MAN, Segun Ajayi-Kadir, disclosed this in the association’s 2025 annual report, […]

Economy featured

MAN warns industrial sector suffocating despite 4.43% GDP growth

Nigeria’s 4.43 per cent economic growth recorded in the second quarter of 2026 is masking a deepening industrial crisis, with manufacturing and the broader industrial sector losing ground as services increasingly dominate economic activity, the Manufacturers Association of Nigeria has warned. This came as the senator representing Ogun East, Otunba Gbenga Daniel, said the true […]

Business featured

High lending rates still threaten manufacturing sector recovery — MAN

The Manufacturers Association of Nigeria has warned that the high cost of credit and rising production expenses remain major threats to the recovery of the manufacturing sector, despite a renewed improvement in manufacturers’ confidence in the economy. Vanguard reported that this was revealed in the Manufacturers’ CEOs Confidence Index for the second quarter of 2026. […]

Business

Manufacturers’ confidence rebounded in Q2 despite operating challenges — MAN

Manufacturers’ confidence in Nigeria’s business environment rebounded in the second quarter of 2026 buoyed by expectations of improved government policies and a more favourable operating climate. But the sector operators have continued to grapple with high borrowing costs, inadequate power supply, foreign exchange constraints and multiple taxation. The latest Manufacturers CEO Confidence Index released by […]

Business

MAN calls for tax harmonisation, reliable energy for manufacturers

The Manufacturers Association of Nigeria has called for urgent tax harmonisation, improved infrastructure, reliable energy supply and a predictable regulatory environment to strengthen the country’s manufacturing sector. The appeal was made at the 41st Annual General Meeting of the Ogun Branch of MAN in Abeokuta, with the theme: “Building a Resilient Manufacturing Sector: Surmounting the […]

Business

MAN laments sharp decline of bank credit to manufacturing sector

The Manufacturers Association of Nigeria has expressed concern over the sharp decline in commercial bank credit to the manufacturing sector. It warned that the trend could undermine industrial growth, job creation, and economic diversification. Vanguard reported that the Director-General of MAN, Mr Segun Ajayi-Kadir, made this known in a statement on Tuesday in Lagos while […]

Business

Tinubu reforms push manufacturers’ energy costs to N1.34tn – MAN

The Manufacturers Association of Nigeria has stated that economic reforms introduced under President Bola Tinubu’s administration have sharply raised production costs for manufacturers, with spending on alternative energy rising to N1.34tn in 2025 and further weakening industrial performance. While acknowledging that the reforms have established a base for long-term economic restructuring, the association called on […]

Nigeria is finished if manufacturing sector dies, MAN warns
Policy and Regulations

MAN urges Lagos to simplify tax structure for manufacturers

The Manufacturers Association of Nigeria has called on the Lagos State Government to simplify its tax structure to support industrial growth, reduce business bottlenecks and attract fresh investments into the manufacturing sector. Chairman of MAN Apapa Branch, Raphael Danilola, made the appeal during the association’s annual business luncheon held in Lagos with the theme: “Simplifying […]

Business featured

Middle East crisis threatens Nigeria’s manufacturing sector, MAN warns

The Manufacturers Association of Nigeria has expressed concern over the potential impact of the escalating military confrontations in the Middle East on the country’s manufacturing sector as possible disruptions to global shipping routes, volatile energy markets, and supply chain bottlenecks. MAN noted, “its vigilance regarding the escalating military tensions involving the United States, Israel, and […]

Nigeria is finished if manufacturing sector dies, MAN warns
Business

MAN commends UNIDO for boosting Nigeria’s manufacturing sector

The Manufacturers Association of Nigeria has commended the United Nations Industrial Development Organisation for its efforts aimed at repositioning the manufacturing sector in Nigeria for sustained growth by adopting global best practices and methodologies. Director, Research and Economic Policy Division, MAN, Dr. Oluwasegun Osidipe, gave the commendation at the ‘MAN National Stakeholders Sensitisation Workshop of […]

MAN calls for regulations to protect manufacturers, consumers
Business

MAN raises the alarm over sharp decline in manufacturing output

The Manufacturers Association of Nigeria has stated that the country’s manufacturing sector is grappling with severe macroeconomic pressures, leading to a sharp decline in its contribution to the national economy. According to the association, manufacturing’s share of the economy has fallen dramatically from 29.9 percent in 1981 to just 8.2 percent in 2024, underscoring the […]

Business

MAN seeks refinancing facility to revive manufacturing sector

The Manufacturers Association of Nigeria, in an effort to revitalise Nigeria’s manufacturing sector in 2026, has called for the introduction of a Manufacturing Refinancing and Rediscounting Facility. The call was made by the Director-General of MAN, Segun Ajayi-Kadir, in a report outlining the manufacturing outlook for 2026. Ajayi-Kadir explained that the proposed Manufacturing Refinancing and […]

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