MANUFACTURING

The Central Bank of Nigeria (CBN) said it has invested over N120 billion across the Cotton, Textile and Garment (CTG) value chain since the inception of its intervention programme in the industry. CBN’s Deputy Governor in charge of Corporate Services, Mr. Edward Adamu, said on Thursday at a meeting with...

  The Manufacturers Association of Nigeria (MAN) has called on the Federal  Government to prevail on   electricity distribution companies to regularise the varying costs of electricity tariffs across the  states of the country. Mr Mansur Ahmed, President, MAN, made the call in a statement on Friday in Lagos. Ahmed said...

...says Oyo State is open to business Oyo State governor, Engineer Seyi Makinde, on Thursday, officially kickstarted the process of reviving the moribund Pacesetter Fruit Processing Company, Oko, when he handed it over to AGVEST Limited. The event, which took place at the premises of the company in Oko, Surulere...

  As the Nigerian economy contends with the effect of the COVID-19 pandemic, the manufacturing Purchasing Managers’ Index (PMI) has further contracted for the fifth consecutive time at 46.9 index points. Manufacturing PMI for August sood at 48.5 index points. This is contained in the Central bank of Nigeria (CBN)...

Manufacturers in Nigeria have said that 38 per cent of their operating costs goes to generating alternative electricity just as their stockpile of unsold goods rocketed to a historic high of N402.4 billion as consumer spending in the country plunges and patronage hits new lows in the aftermath of the...

 The Manufacturers Association of Nigeria (MAN) says its members made donations worth N8 billion in cash and N300million worth of palliative materials to both Federal and States Governments during the outbreak of COVID-19 pandemic. Mr Mansur Ahmed, President of MAN, made this known at the 48th Annual General Meeting of...

  The Nigeria Purchasing Managers’ Index (PMI) for August has indicated that recovery in the private sector fared better in the month as the Index rose to 54.6, up from 50.4 in July. Readings above 50 signal an improvement in business conditions on the previous month, while readings below 50...

The Central Bank of Nigeria (CBN) has announced N50 billion special mechanism funds to revive the ailing textiles industry. The funds to be administered by the Bank of industry (BoI) at 4.5 per cent interest rate will use any of the CBN-approved non-interest financing instruments for refinancing of projects, long-...

Nigeria’s Manufacturing Purchasing Managers’ Index (PMI), which measures the prevailing direction of economic trends in the manufacturing sector, stood at 41.1 points in June 2020, indicating contraction in the sector for the second time. Data obtained from the Central Bank of Nigeria (CBN) website on Thursday has revealed even as...

The Manufacturers Association of Nigeria (MAN) has expressed concerns over its overall inventory of unsold products worth N420 billion for the first quarter of 2020. Its acting Director-General, Mr Ambrose Oruche, made this known in an interview with the News Agency of Nigeria (NAN) on Saturday in Lagos. Oruche attributed...