BY MOTOLANI OSENI The Manufacturers Association of Nigeria (MAN) has called on the government to prioritise improved trade facilitation measures to address the current constraints hindering the optimum performance of the productive sector. The association stated this, while expressing deep concerns over reported plans by the Nigeria Customs Service to reintroduce the four per cent […]
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 director-general, Segun Ajayi-Kadir, urged the NPA to reconsider the hike, citing the fragile state of […]
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 government’s decision to […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 Mojishola […]
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 […]
…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 […]
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 […]
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 comply with the new procedure of registering and […]
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 […]
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 […]
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 […]
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 […]