Manufacturers and Organised Labour have kicked against the Federal Government’s 240 per cent hike in the tariff payable by electricity users enjoying a 20-hour power supply. They insisted on the electricity subsidy, warning that its removal would send manufacturers out of business and worsen inflation, reports The PUNCH. The subsidy on electri...
•Tinubu The Manufacturers Association of Nigeria has said that 767 manufacturers shut down operations while 335 became distressed in 2023. This came against the backdrop of exchange rate volatility, rising inflation and other economic challenges that have worsened the investment climate, reports The PUNCH. MAN stated this in a statement in whi...
Cement manufacturers have agreed to sell a 50kg bag of cement at a retail price between N7,000 and N8,000, depending on location nationwide. However, the manufacturers stated that the price drop from the current market price would depend on the fulfilment of certain government interventions to ameliorate critical challenges faced in the indust...
•Bags of cement In a bid to stem the rising cost of cement and other building materials and enhance the delivery of affordable housing in Nigeria, the Minister of Housing and Urban Development, Ahmed Dangiwa has called for a meeting with manufacturers of Cement and other building materials in the country. The move is aimed […]
•Segun Ajayi-Kadir The Director General of the Manufacturers Association of Nigeria (MAN), Segun Ajayi-Kadir, has regretted the exit of multinational consumer goods manufacturer, Procter & Gamble from Nigeria, saying that more manufacturers may follow suit. He said until the federal government takes clear redefined measures to address chal...
•Dr Doris Uzoka-Anite All is set for the disbursement of the N275 billion palliative support funds announced in July by President Bola Ahmed Tinubu, to mitigate the pains arising from the removal of petrol subsidy. Minister for Industry, Trade and Investment, Dr Doris Uzoka-Anite, yesterday said that two programmes under the multi-layered inte...
Manufacturers have expressed concerns as the price of diesel has risen to N1,275 per litre in Lagos and above N1,300 outside the state. The product is selling for N1, 270 per litre in Kano State and above that outside the metropolis, reports Daily Trust. This implies a 26 percent increase in the price of the […]