MAN rates Ikeja Industrial Zone Most Active hub in Nigeria

Manufacturing

 

MANUFACTURERS Association of Nigeria (MAN) has scored Ikeja Industrial Zone the topmost industrial hub of the nation, for its production of finished goods valued at N3.5 trillion.

In its analysis based on industrial zones production performance in the second Half of 2019, released at the weekend, the data shows that although, production fell in almost all the industrial zones across the country, yet in Ikeja industrial zone production value increased to N3.5 trillion in the period under review, from N2.65 trillion recorded in the same half of 2018.

This indicates N0.85 trillion or 32.1 percent increase over the period.

“It also increased by N1.45 trillion or 70.0 percent when compared with N2.05 trillion recorded in the first half of 2019.  With this performance, Ikeja maintains the topmost industrial hub of the nation,” said the report.

The report said that Ogun Industrial Zone, followed suit with Production value of N2. 45 trillion in the Second Half of 2019 from N1.64 trillion recorded in the corresponding half of 2018; thereby indicating N0.81 trillion or 49.4 percent increase over the period.  The zone also increased by N0.44 trillion or 21.9% over N2.01 trillion recorded in the first half of 2019.

Local Sourcing of raw materials

Across industrial zone, in the Ikeja industrial zone, local sourcing of raw-materials increased to 69 percent in the second half of 2019 from 53.3 percent recorded in the corresponding half of 2018; thus indicating 15.7 percentage points increase over the period.  It increased by 10.4 percentage point when compared with 58.6 percent of the preceding half.

In Ogun zone, local sourcing of raw-materials increased to 71.3 percent in the second half of 2019 from 71.2 percent recorded in the corresponding half of 2018; thus indicating 0.1 percentage points increase over the period.

It increased by 14.3 percentage points when compared with 57 percent of the preceding half. Local sourcing of raw-materials in Apapa zone increased to 72 percent from 58.7 percent recorded in the corresponding half of 2018; thus indicating 13.3 percentage point increase over the period.   It increased by 6.1 percentage points when compared with 65.9 percent of the preceding half.

Capacity Utilization

Further analysis of industrial zones   shows that   in the second half of 2019 capacity utilization increased in Ikeja zone (70.8 percent); Imo/Abia (62.4 percent); Edo/Delta (56.3 percent); Kaduna (64.2 percent); Kano Bompai (63 percent); Apapa (70.8 percent); Rivers (57.6 percent); and Kwara/Kogi (55.4 percent).

Conversely, it declined in Kano Sharada/Challawa (53.7 percent), Ogun (60.9 percent), Anambra/Enugu (53.2 percent); Baunchi/Benue/Plateau (47.7 percent): and Abuja (57.8 percent).

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