Nigerian manufacturers face a massive 357.57% rise in unsold goods due to economic hardships.

Manufacturers in Nigeria are struggling with a 357.57% increase in unsold inventory to N1.24 trillion, due to declining consumer purchasing power from high inflation, subsidy removal, and naira devaluation. The sector also faces higher electricity costs and power outages, with manufacturers spending N238.31 billion on alternative energy. Despite a 30.38% rise in output, the sector needs economic reforms to address challenges and improve welfare.

November 11, 2024
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