NEWS & RESOURCES

Has Nigeria missed the manufacturing bandwagon?

If industrial production is the key to raising a nation’s living standards, then Nigeria has been struggling for years. Studies of Asian economic success stories — from Japan, South Korea, Taiwan, Singapore, China, Malaysia and more recently Vietnam and Bangladesh — have found that building a competitive manufacturing sector is the fastest way for a country to climb the productivity ladder and raise living standards. Read More

Inflation, forex scarcity worsens woes in manufacturing sector

Growth rate in the manufacturing sector is projected to suffer further decline in September and third quarter of 2020 as operators come under a renewed wave of inflation and foreign exchange scarcity.Read More

 

Manufacturing sector in Nigeria and the reality of a “new normal

Across the globe, there is a pervading awareness that things will never be the same in the post-pandemic era. Already, some business ventures that were once considered the ‘crème’ of the global economy have taken serious hits in unimaginable measures, and some of the little ones which were regarded as below the rung, are fast rising to match up.Read More

GDP: Nigeria’s manufacturing sector on tight ropes

According to the National Bureau of Statistics, only two sub-sectors in the manufacturing space – chemical & pharmaceutical products and motor vehicles & assembling, reported real growths of 3.79% and 6.95%, respectively. This is higher than the real growths of 0.58% and 1.04% in the first quarter, and a contraction of 1.27% and 1.5% in the corresponding quarter of 2019.Read More