Over 400 manufacturing firms were forced to close production in the past one year, according to the Manufacturers Association of Nigeria (MAN).
The association’s director-general, MAN, Segun Ajayi-Kadir disclosed this at MAN’S 50th-anniversary cake-cutting event, said some of the manufacturers have resumed production
But he lists, the continued scarcity of foreign exchange and supply-side constraints are the two biggest hiccups facing industries in the country.
Ayayi-Kadiri also says that infrastructure deficit, power, transportation, acquisition of lands, multiple taxes and levies from different tiers of government, and inconsistent government policies were other challenges facing manufacturers
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