MAN: 10 Top Manufacturing Challenges CBN, other regulators should address and why

  By Industrial Digest   The Manufacturers Association of Nigeria (MAN) has called on the Central Bank of Nigeria (CBN) and other regulators to adequately address the top ten challenges facing operators in the sector to better its performance.                     Source: MAN Fieldwork 2021 The association […]

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Forex scarcity, others put pressure on FMCG companies’ profits

Analysts have identified scarcity of foreign exchange, inflationary pressures and rising input costs due to naira devaluation as responsible for the shrinking profit margins of some fast-moving consumer goods companies listed on the Nigerian Exchange Limited despite an overall increase in revenue. An analysis of unaudited financial statements of consumer goods companies by our correspondent […]

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FX Squeeze: Manufacturers Begin to Look Inward for Survival

The illiquidity in the Nigeria’s foreign exchange market is forcing operators in the Nigerian manufacturing sector to look inward for local raw materials to reduce costs and remain afloat, writes Dike Onwuamaeze The Nigerian industrial sector is in dire financial straits. The sector is faced with challenging foreign exchange squeeze. This has constrained growing number […]

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Manufacturing sector struggling despite CBN’s support –LCCI

The Lagos Chamber of Commerce and Industry (LCCI) has lamented that the country’s manufacturing sector is still struggling in terms of growth even as the biggest beneficiary of the Central Bank of Nigeria’s (CBN) support to the real sector of the economy. The Director-General of LCCI, Muda Yusuf, made the disclosure in Lagos during LCCI […]

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Nigeria’s Central Bank fresh drive to revive textile industry

“I AM pleased to inform you that I have been holding meetings with the Cotton, Textile and Garment (CTG) sector stakeholders toward reviving Nigeria’s textile sector.” Godwin Emefiele, the Governor of Central Bank of Nigeria, CBN,said when he met recently with stakeholders from CTG industries on the present administration’s drive to revive the sector, in Abuja. […]

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CBN Engages 100,000 Cotton Farmers for Textile Sector Resuscitation

  The Central Bank of Nigeria is partnering the National Cotton Association of Nigeria to engage 100,000 Cotton farmers to cultivate 100,000 hectares of cotton for the 2019 season. The move is part of the measures by the apex bank to revive textile companies operating in the country and to make the sector provide jobs […]

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Unilever bows to CBN’s pressure, reestablish $14m New Blue Band Plant

By Franklin Ocheneyi “WHEN the restriction of foreign exchange (forex) for the 41 items came on board about two years ago; before that time, Unilever had a factory producing Blue Band margarine. But margarine was also part of the 41 items. The Managing Director and the executive team of Unilever Nigeria visited me in Abuja and […]

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