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Friday, September 25, 2020

VAT increase will raise Nigeria’s misery index, says MAN

The Manufacturers Association of Nigeria (MAN) has said any increase in the Value Added Tax (VAT) will be inappropriate. Its Director-General Mr. Segun Ajayi-Kadir told The Nation at the weekend that increasing VAT could send a wrong signal that the government was not sensitive...

Manufacturers want harmonisation of taxes, levies for higher productivity

Worried about the implications of additional tax burden on local producers, the Manufacturers Association of Nigeria (MAN) has urged the Federal Government to harmonize taxes/levies/fees payable by businesses in the country so as to attract more investment that would translate to higher productivity and...

Nigeria needs economic stimulus programme to boost sector’s performance, Manufacturers tell Buhari

As Nigeria’s President Muhammadu Buhari prepares to begin his second term in office. President of Manufacturers Association of Nigeria, Mansur Ahmed, has urged him to address the challenges militating against the manufacturing sector of the economy. Boosting the manufacturing sector Nigeria urgently needs a massive economic...

CBN says Nigeria’s manufacturing sector records 57.1 PMI points as at February

Lagos – The Central Bank of Nigeria (CBN), said the Manufacturing Purchasing Managers’ Index (PMI) stood at 57.1 index points as at February, indicating an expansion in the manufacturing sector for 23 consecutive months. Buhari and Emefiele The CBN said this in its monthly...

Manufacturers urges FG to synchronise monetary, fiscal policies to drive economic growth

In a bid to achieve the country’s economic growth projection for 2019, the Manufacturers Association of Nigeria (MAN) has called on Federal Government to synchronise its monetary and fiscal policies. MAN’s Director of Statistics, Mr Israel Osidipe, made the call in an interview in Lagos...

Nigeria’s economic expansion dips in January as manufacturing PMI expands

Lagos Nigeria — The Central bank of Nigeria (CBN) yesterday released its Purchasing Managers Index (PMI) report for January which indicated slowdown in economic expansion during the month. Economy The report showed that the Manufacturing PMI dropped to 58.5 percent in January from...

Local manufacturers spent N246bn on private power generation in two years —MAN

Against the backdrop of the worsening public power supply, new data have emerged showing that manufacturers in Nigeria spent a total of N246.38bn generating their own electricity between 2016 and 2017. Further analysis of the data compiled by the Manufacturers Association of Nigeria showed that...

Nigeria’s central bank providing 75 bln naira financing to Dangote’s oil refinery

LAGOS, Jan 22 - Nigeria’s central bank will provide 75 billion naira in financing to an oil refinery project being built by Africa’s richest man Aliko Dangote in the West African country, its Governor Godwin Emefiele said on Tuesday. Emefiele said Dangote has invested...

Nigeria’s Business Activity Expands Stronger in Dec. ’18; Outpaces Global Manufacturing…

Recently released Purchasing Managers’ Index (PMI) survey report for December 2018 showed faster expansions in both the manufacturing and non-manufacturing businesses in line with anticipated increase in demand associated with the “seasonal” festive month coupled with electioneering spending activity. According to the survey, the...

Nigeria’s Manufacturing Index Growth expands by 61.1 index in December

Manufacturing in Nigeria expanded by 63.6 index points in December 2018, the production level index for the manufacturing sector grew for the twenty-second consecutive months in December 2018. The index indicated a faster growth in the current month, when compared to its level...
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