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Nigeria's manufacturing sector warns of potential collapse due to soaring costs and policy issues.
Nigeria's manufacturing sector is facing severe challenges, with the Manufacturers Association of Nigeria (MAN) warning of potential collapse due to high costs and policy issues.
Despite a slightly improved CEO confidence index and sales volume in the fourth quarter of 2024, manufacturing costs soared by 18.2%, driven by high energy costs, forex scarcity, and poor infrastructure.
MAN has called on the government to address these issues, including reviewing electricity tariffs and improving access to credit, to stabilize the sector.
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El sector manufacturero de Nigeria advierte de un posible colapso debido al aumento de los costos y las cuestiones de política.