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MAN: Nigeria’s Manufacturing Sector Generated N140bn Investment in 2012

Manufacturers Association of Nigeria reports that investment of N140bn led to 20.5k jobs

Acting Director-General Rasheed Adegbenro spoke at the 41st Annual General Meeting of MAN and relayed details of a survey conducted by some their members. He claimed that the nation’s manufacturing industry generated about N140bn in investments in 2012 as well as 20,488 jobs. The Daily Trust reports…

He told guests at the meeting that an economic survey conducted by some of his members revealed that average capacity utilization declined by 2.21 percent from 48.90 percent in 011 to 47.82 percent in December 201(sic).

He said: “However,on half-yearly basis, industrial capacity utilisation recorded improved performance of 49 percent in the first half of 2012 when compared with the closing figure of 47.82 percent for the second half of the year.

“The gradual upward movement in the capacity utilization that was recorded in the first half of 2011 started to fall by the last half of 2012”.

The survey also purported a drop in the supply of electricity to the industry led to the reduction in capacity utilisation.

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