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Nigeria’s manufacturing sector plagued by N14trn deficit — Report

Nigeria’s manufacturing sector has sunk deeper into deficit, with imports of manufactured goods outpacing exports by over N14 trillion in the first half of 2025. According to the National Bureau of Statistics, the value of manufactured goods imported between January and June stood at N15.39 trillion, while exports during the same period amounted to just […]

Don, CITN advocate taxes for economic development
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Don, CITN advocate taxes for economic development

Bisola David The Rector of The Federal Polytechnic Ilaro, Dr Akinde Mukail, has stated that Nigeria must turn inward and use taxation to stabilize the economy, close the infrastructure gap, fund education, and generate jobs. According to The Punch, Mukail made the announcement on Thursday at the 49th Induction Ceremony of the Chartered Institute of […]

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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 […]

Manufacturing sector's GDP contribution falls to N1.49trn
Business

Manufacturing sector’s GDP contribution falls to N1.49trn

In the second quarter ended June 2023, the manufacturing sector contributed N1.5 trillion to Nigeria’s GDP in real terms. This marks a 17.24 percent decrease from the N1.8 trillion contribution recorded in the first quarter of the year. According to the Nigerian Bureau of Statistics, the country’s GDP expanded by 2.51% in Q2’23, compared to […]

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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