Business

Manufacturers oppose NPA’s planned 15% port tariff hike, warn of economic fallout

DailyTimesNGR DailyTimesNGR 10 February 2025 0

The Manufacturers Association of Nigeria (MAN) has rejected the Nigerian Ports Authority’s (NPA) proposed 15 per cent increase in port-related charges, warning that it could further strain businesses already grappling with economic challenges. In a statement issued in Lagos, MAN’s

Business

Manufacturers face crisis as Naira float drives forex scarcity, costs surge

DailyTimesNGR DailyTimesNGR 13 November 2024 0

BY MOTOLANI OSENI Manufacturing firms under the auspices of the Manufacturers Association of Nigeria (MAN) are groaning over the effect of Naira float on their respective businesses. The chairman of the Ogun State Manufacturers Association of Nigeria (MAN), Mr. George Onafowokan frowned at the unprecedented crisis facing Nigeria’s manufacturing sector following the

Headlines

Manufacturers recommend solutions as confidence index drops in Q2 2024

DailyTimesNGR DailyTimesNGR 15 August 2024 0

Manufacturers Association of Nigeria (MAN) on Wednesday proposed solutions to industry challenges as its Chief Executive Officer (CEO) Confidence Index dropped to 51.9 per cent in the second quarter of the year. President, MAN, Mr Francis Meshioye, via the MAN CEO Confidence Index (MCCI) report, said the MCCI dropped from 53.5 per cent in the […]

Money

‘How unfulfilled $2.4bn FX contracts pushing manufacturers to the brink of collapse’

DailyTimesNGR DailyTimesNGR 9 August 2024 0

BY TEMITOPE ADEBAYO Nigerian manufacturers are facing an existential crisis as the Central Bank of Nigeria (CBN) continues to delay the redemption of $2.4 billion in forward contracts, part of a larger $7 billion backlog. This delay, according to the manufacturers has severely hindered companies’ ability to meet offshore obligations, pushing many to the edge […]

Business

Manufacturers laud FG efforts at attracting investments

DailyTimesNGR DailyTimesNGR 14 September 2023 0

The Basic Metal, Iron, and Steel Products Manufacturers of Nigeria have applauded President Bola Tinubu over his efforts towards the nation’s economic growth at the just concluded Nigeria-India economic roundtable meeting in New Delhi. This is contained in a statement from the Chairman of the group, Dr Kamoru Yusuf, yesterday in Ilorin. The statement said […]

Commerce and Industry

How inflation surge, Naira depreciation impact Manufacturers’ confidence

Ihesiulo Grace 15 February 2023 0

By Joy Obakeye The Manufacturers Chief Executive Officers (CEO’s) Confidence Index (MCCI) of the Manufacturers Association of Nigeria (MAN) has revealed that the aggregate Index Score (AIS) of MCCI declined to 55.0 points in the fourth quarter of 2022 from 55.4 points recorded in the third quarter of the year. The report noted that the […]

Business

Manufacturers demand a review of Central Bank of Nigeria policy

Ihesiulo Grace 31 August 2020 0

By Joy Obakeye Manufacturers have kicked against a recent policy of the Central Bank of Nigeria (CBN) on the removal of buying agents/companies or any third parties from accessing its SMIS forex window through FORM M foreign exchange purchases. In a circular dated August 24, 2020, the apex bank instructed that “authorized dealers are hereby […]

Business News

Manufacturers yet to access CBN’s ₦1trn intervention loan

Ihesiulo Grace 10 August 2020 0

In March this year, the Central Bank of Nigeria (CBN) announced plans to boost local manufacturing and import substitution by injecting ₦1 trillion intervention in critical sectors of the economy. But four months after the announcement, manufacturers have said they are yet to get the funds to speed up business activities amid economic uncertainty. In […]

Business Headlines

Manufacturers caution FG on signing of African Trade Agreement

Ihesiulo Grace 29 October 2018 0

The new President of the Manufacturers Association of Nigeria, MAN, Engr Mansur Ahmed, has called for a detailed study of the potential benefits and costs of the African Continental Free Trade Agreement, AFCFTA, to Nigeria. Mr. Ahmed, on Sunday, said though MAN recognises the potential value and desirability of expanding trade and economic integration in […]

News

NAF wants quick delivery of A-29 Super Tucano aircrafts

Ihesiulo Grace 26 August 2018 0

The Chief of the Air Staff (CAS), Air Marshal Sadique Abubakar, has appealed to the manufacturers of the A-29 Super Tucano attack aircraft, to expedite action on its delivery to Nigeria. Abubakar said this when Mr. Taco Gilbert, the Senior Vice – President of Sierra Nevada Corporation (SNC), manufacturers of the aircraft visited him in […]

Health

NAFDAC vows to prosecute manufacturers violating BMS Marketing Code

Ihesiulo Grace 12 July 2018 0

Citing the importance of infant nutrition especially, exclusive breastfeeding in the first six months of life, the National Agency for Food and Drug Administration and Control (NAFDAC), has warned manufacturers and distributors of Breast Milk Substitutes (BMS) to stop violating the International Code of Marketing of BMS or risk prosecution. Director-General of NAFDAC, Prof

News Nigeria

Dangote, Peugeot-Citroen partnership excites MAN

Ihesiulo Grace 12 June 2018 0

The Manufacturers Association of Nigeria (MAN) has applauded the partnership between Dangote, Peugeot-Citroen and five State Governments in automobile manufacturing. The Director-General of MAN, Mr Segun Ajayi-Kadri, said in an interview with journalists on Monday in Lagos that the partnership would revive the automobile industry in Nigeria. “If we are able to have more of

Business Headlines

CBN, NEXIM Bank to support local manufacturers with N500bn

Ihesiulo Grace 10 April 2018 0

…We must be vigilant to avoid sliding into another recession- Emefiele …Targets $50bn external reserves in 2018 In order to continue the success recorded in the nation’s local production, the Central Bank of Nigeria (CBN) has disclosed that plans have been concluded to float a N500 billion support funds for the local manufacturers in the […]

News

Nigeria opens window for direct power sale to manufacturers under the eligible customer rule

Ihesiulo Grace 13 February 2018 0

The much talked about eligible customer rule is coming into effect with the opening of the window for manufacturers to buy bulk power from the generating companies Babatunde Fashola, Nigeria’s minister of power, works, and housing, according to Businessamlive, disclosed the opening Tuesday at a meeting with Manufacturers Association of Nigeria (MAN) in Lagos. He […]

Business Tech

NITDA introduces new certification process for Indigenous manufacturers

Ihesiulo Grace 19 January 2018 0

The management of the National Information Technolog Development Agency (NITDA) has introduced new certification procedure for all Information Technology (IT) Indigenous Original Equipment Manufacturers (OEMs). The Agency also urged all Ministries, Departments and Agencies (MDAs), other government establishments, the organised private sector and the general public to

News Nigeria

Anxiety, as manufacturers anticipate single-digit interest rate in 2018

Ihesiulo Grace 15 December 2017 0

Following the announcement by the Federal Government of Nigeria that it will soon unveil a single digit interest rate for manufacturers, local producers in the country can’t wait till 2018 to see the move actualized, as it has been long overdue. The low interest rate according to government was to further promote private sector investments […]

Health

NAFDAC will enhance quality testing of medicines,foods, says New DG

Ihesiulo Grace 11 December 2017 0

To ensure the safety of all Nigerians and foreigners residing in Nigeria, the new Director-General of the National Agency for Food and Drug Administration and Control (NAFDAC), Prof. Mojisola Adeyeye, has assured that the agency will enhance quality testing of medicines and food products produced in the country. Adeyeye, said she would achieve this by […]

Business

Experts urge FG to make finance accessible for manufacturers

Ihesiulo Grace 22 November 2017 0

Some financial experts on Tuesday urged the Federal Government to create window of opportunities for the manufacturing sector to sustain the present Gross Domestic Product (GDP) growth. They stated this in separate interviews with the News Agency of Nigeria (NAN) in Lagos, while reacting to the third quarter GDP figure released by the National Bureau […]

Business

Paint manufacturers task FG on standardisation

Ihesiulo Grace 26 October 2017 0

The Paint Manufacturers Association of Nigeria, a subsidiary of the Manufacturers Association of Nigeria (MAN), has called on the Federal Government to set a standard for the local paint manufacturers in the country as it will help in reducing the substandard product from the Nigerian paint market. Mr. Rotimi Aluko, Chairman, PMA, who made this […]

Tech

Seven local original equipment manufacturers exist in Nigeria

Ihesiulo Grace 17 October 2017 0

Director General, National Information Technology Development Agency (NITDA), Dr. Isa Pantami, has disclosed that Nigeria currently have seven local Original Equipment Manufacturers (OEMs), but they can only meet about 20 per cent of the local demand for computer hardware. Pantami dropped the hint when he spoke to partnerships and potential investors at Africa Investment