Nigeria’s Local manufacturing value hits N5.2tr – MAN says

Must Read

List of Guaranty Trust Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number that usually identifies both the bank and the branch where an account is...

List of latest Ponzi schemes in Nigeria

These are the latest and past Ponzi scams and shady investment products that Nigerians are putting their monies into. What...

List of Access Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number which usually identifies both the bank and the branch where an account is...
The Manufacturers Association of Nigeria (MAN) has said the estimated value of manufacturing in the country during the second half of last year reached N5.02 trillion  as against N4.08 trillion of the corresponding period of the previous year. This translates to N0.94 trillion or 23.0 per cent increase over the period, according to MAN’s second half of 2016 report.

This also indicates that production in the manufacturing sector totalled N8.38 trillion as against N7.71 trillion totals of 2015; thus indicating N0.67 trillion or 8.7 per cent increase over the period.

At the end of last year, estimated cumulative manufacturing investment from 2013 to 2016 stood at N3.79 trillion based on data generated in the survey conducted by MAN over the period.

In the second half of 2016, manufacturing investment increased to N448.94 billion from N309.33 billion recorded in the corresponding period of 2015; thereby indicating N139.61 billion increase over the period.

It also, increased by N283.33 billion when compared with N165.61 billion recorded in the preceding half.

Manufacturing investment totalled N614.55 billion in 2016 as against N489.45 billion of the 2015; thereby indicating N125.1 billion increase over the period.
- Advertisement -

A total of 10,061 manufacturing jobs were created in the second half 2016 as against 9393 jobs created in the corresponding half of 2015; thus indicating an increase of 668 jobs over the period.

Read Also:  Africa’s Largest Refinery to Produce 65.4 Million Litres of Petrol, Diesel Daily

Another 4,408 jobs were lost in the period under review as against 12,400 jobs lost in the preceding half; thereby indicating 7,992 decline over the period.

(financialwatchngr)
- Advertisement -
Nigeria’s Local manufacturing value hits N5.2tr – MAN saysNigeria’s Local manufacturing value hits N5.2tr – MAN says

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

1 COMMENT

  1. […] on the challenges confronting manufacturers in the country, Manufacturer Association of Nigeria (MAN), Ogun State, Wale Adegbite urged the government to provide infrastructure facilities like good roads […]

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Nigeria’s Local manufacturing value hits N5.2tr – MAN saysNigeria’s Local manufacturing value hits N5.2tr – MAN says

Latest News

How Business Can Fight COVID-19 in the Poorest Communities

The COVID-19 crisis has triggered an unprecedented homegrown response in Africa. There has been an outpouring of corporate philanthropy...

Lagos Business School emerges as the only African business school on 2020 Economist ranking

Lagos Business School (LBS) has become the only business school in Africa to be featured on The Economist 2020 Executive MBA Ranking. The Economist’s Executive...

Nigeria H2’20 Outlook – The viral shock

The year 2020 has been a struggle. A global pandemic is in full swing and is poised to upend lives and livelihoods, obliterating any...

BUA Group to set up 3 million Metric-ton Cement Company, 50MW Power Plant in Adamawa

The Bua Group announced that it is set to establish a three million metric tonnes cement plant and 50 megawatts power plant in Guyuk...

Economic Slowdown – Quick Response But No Quick Fix (LBS Executive Breakfast Session – July 2020)

Nigerian manufacturers are mostly anxious about two things today: How long will the pandemic lockdown continue before demand for my products recover? (X) - Unknown When will...
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -Nigeria’s Local manufacturing value hits N5.2tr – MAN saysNigeria’s Local manufacturing value hits N5.2tr – MAN says