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Tag: Manufacturers Association of Nigeria

Nigeria is finished if manufacturing sector dies, MAN warns
Business

Manufacturers demand law to enforce ‘Nigeria First’ policy across MDAs

The President of the Manufacturers Association of Nigeria, Francis Meshioye, and the President of Dangote Group, Aliko Dangote, have both stressed the critical need for the Federal Government to reinforce the ‘Nigeria First’ policy with enabling legislation. This legislation, they argue, must ensure the policy is enforced consistently across all government ministries, departments, and agencies. […]

Economy featured

MAN urges CBN to cut lending rates below 5%

The Manufacturers Association of Nigeria has continued to bemoan the high interest rates in the country, noting that the situation has placed the nation’s manufacturing sector at a competitive disadvantage against other countries of the world. The Director General of MAN, Segun Ajayi-Kadir, expressed optimism that the recent 50 basis points reduction in the Monetary […]

Policy and Regulations

Proposed tax stamp system could worsen inflation, MAN warns

The Manufacturers Association of Nigeria has expressed concerns that the proposed introduction of a Tax Stamp System for excisable goods could worsen inflation, erode consumer demand, and weaken Nigeria’s competitiveness under the African Continental Free Trade Area. According to MAN, the extra compliance costs from tax stamps would inevitably be passed on to consumers, many […]

Business

Nigerians face price hike over 4% import levy – MAN

The Manufacturers Association of Nigeria has cautioned that Nigerians could soon see higher prices for goods after the Federal Government reinstated a four per cent Free-on-Board charge on imports. In a statement signed by its Director General, Segun Ajayi-Kadir, MAN said the policy, effective August 4, 2025, is likely to worsen the operating environment for […]

Business

Don’t celebrate GDP gains as economic growth, MAN warns FG

The Manufacturers Association of Nigeria has urged the federal government not to misinterpret the recently rebased Gross Domestic Product figures as a sign of significant economic advancement, warning that the data may conceal deeper structural issues within the economy. Reacting to the National Bureau of Statistics’ latest rebasing exercise, MAN noted that while nominal GDP […]

Business

MAN calls for legal backing of ‘Nigeria First’ policy

The Manufacturers Association of Nigeria has urged the Federal Government to enact the Nigeria First Policy into law to strengthen the manufacturing sector. In his keynote address at the 2025 BusinessDay Manufacturing Conference in Lagos on Thursday, MAN Director-General Segun Ajayi-Kadir emphasized that formalizing the procurement policy through legislation would ensure its consistent implementation across […]

News

MAN accuses Banks of sabotage over unresolved FX contracts 

The Manufacturers Association of Nigeria has voiced serious concerns over what it terms the unfair treatment of its members by some commercial banks regarding unresolved foreign exchange forward obligations. In a statement released on Thursday and signed by its Director General, Segun Ajayi-Kadir, the Association urged the Central Bank of Nigeria to take immediate action […]

featured

NCS’s planned 4% FOB levy will harm industry — MAN

The Manufacturers Association of Nigeria has raised alarm over the Nigeria Customs Service’s reported plan to reinstate a 4% Free-On-Board levy, labeling it a potential catalyst for de-industrialization. In a statement Tuesday, MAN’s Director-General, Segun Ajayi-Kadir, described the move as “unfortunate and retrogressive,” arguing it disregards the interests of manufacturers and other key stakeholders. MAN […]

Business

Forex shortage drives rise in local raw material use – MAN

Nigeria’s foreign exchange crunch in 2024 prompted manufacturers to increase their use of local inputs in a bid to cut costs and maximise value, according to the Manufacturers Association of Nigeria. In its latest economic review for the second half of 2024, MAN reported that local raw material utilisation in the manufacturing sector rose to […]

News

Local polypropylene production to boost Nigeria’s textile industry – MAN

The Manufacturers Association of Nigeria stated that the increased local production of polypropylene in Nigeria will strengthen the country’s textile industry. In a recent interview, the Director General of MAN, Segun Kadir-Ajayi, noted that Dangote Refinery’s addition of 900,000 tons of polypropylene will save Nigeria $267 million in import costs. This development is expected to […]

News

MAN laments excessive annual charges by FRC

The Manufacturers Association of Nigeria has expressed serious concern over the substantial increase in annual charges imposed on private companies by the Financial Reporting Council of Nigeria under the recently amended FRCN Act. MAN describes these charges as “astronomical,” particularly affecting listed companies and imposing excessive fees on non-listed companies, including those operating at a […]

featured

Manufacturers under Band A electricity struggling, says MAN

The Manufacturers Power Development Company Limited established under the Manufacturers Association of Nigeria, has raised concerns over the unsustainable energy costs facing manufacturing firms, particularly those in the Band A electricity category. The firm has taken proactive steps to address this issue by providing sustainable energy solutions to 10 companies, as part of a larger […]

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