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Tag: Manufacturers

Equity investors lose N1.5tn as bond yield rises
Business

Manufacturers debt hits N6.98tn in June – CBN

Manufacturers’ debt to Nigerian banks increased from N5.56 trillion in January 2023 to N6.98 trillion by June 2023, according to data from the Central Bank of Nigeria. The Times reported that the Sectoral Analysis of Deposit Money Banks’ Credit report from the CBN states that manufacturers took out a significant N1.42 trillion in loans between January […]

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 […]

NERC considers increase of prepaid meters
Business

Nigerian manufacturers reject world bank-funded bid for smart electricity meters

The Association of Metre Manufacturers of Nigeria has demanded the immediate suspension of the World Bank-funded bid procedure in a letter dated July 4, 2023, that was sent to the director general of the Bureau of Public Procurement. According to Arise News, the meter manufacturers have filed a protest in opposition to the World Bank-funded bid process […]

Manufacturers warn price hikes to persist without solutions
News

Why manufacturers invested N144bn in alternative energy sources – MAN

The Manufacturers Association of Nigeria has stated that the cost of accessing alternative energy sources increased by 87% between 2021 and 2022, from N77.22 billion to N144.5 billion spent by its members. The News Agency of Nigeria reported that this is because the association has protested against the anticipated hike in electricity rates that will take […]

Manufacturers warn price hikes to persist without solutions
Energy

How self-generated power costs manufacturers N144.5bn in one year

With the cost of self-generated power in the industry skyrocketing to N144.5 billion in 2022, up 87.13 percent from N77.22 billion in 2021, the near collapse of the public energy supply system has made doing business in Nigeria’s manufacturing sector more difficult. According to Vanguard, findings suggest that the problem might have gotten worse this […]

How manufactured goods imports gulp $6.7bn in six months – Report
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Cash crunch: Manufacturers lament unsold goods worth N470bn

The bi-annual economic review of the Manufacturers Association of Nigeria shows that the drop in purchasing power of Nigerians for Nigerian manufactured goods was worsened by the cash crunch that hit the economy in the first quarter of 2023. According to Vanguard, analysis of the report shows that the rise in inventory is despite a […]

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