The Manufacturers Association of Nigeria (MAN) has revealed that production and distribution costs within the manufacturing sector experienced a sharp rise of 24.4 percent in the second quarter of this year.
This marks a significant increase from the 20.7 percent growth recorded in the first quarter. The report, featured in MAN’s latest aggregate Manufacturers CEO’s Confidence Index (MCCI), highlights the toll that Nigeria’s challenging macroeconomic environment has taken on manufacturing, driving up costs across the board.
The MCCI, a flagship quarterly publication of MAN, serves as both a research and advocacy tool, providing crucial insights into the state of the manufacturing sector. It captures the pulse of industry leaders, monitoring trends and shifts in response to economic movements and government policies.
This index is built on comprehensive primary data obtained through direct surveys of over 400 CEOs from MAN member companies, offering a clear window into the realities faced by manufacturers.
