News Formal

Manufacturers slash investment by 56% amid shutdowns

  • 📰 MobilePunch
  • ⏱ Reading Time:
  • 19 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 63%

Italia Notizia Notizia

Italia Ultime Notizie,Italia Notizie

Nigerian manufacturers have slashed their investments by 56 per cent in seven years, reflecting a sector buffeted on all sides by a cacophony of poor policies and economic headwinds.

Between 2016 and 2021, manufacturers’ investments tumbled from N489.44 billion to N217.22 billion, according to data collected by the Manufacturers Association of Nigeria but analysed by“How many companies in our sector are still in operation? Wempco has shut down; WAHUM is struggling, and the rest are just there.

But the responses of Nigeria’s federal and state governments to issues of economy have been poor, according to analysts. Insecurity has worsened over the period and foreign exchange crisis has reached its crescendo, with naira-to-dollar exchange rate rising from N197/$ to N425 in the official market over the period – signaling 54 per cent naira depreciation.

 

Grazie per il tuo commento. Il tuo commento verrà pubblicato dopo essere stato esaminato.

What Buhari's lack of patriotism and economic illiteracy did to Nigeria is a book to be written some day.

Abbiamo riassunto questa notizia in modo che tu possa leggerla velocemente. Se sei interessato alla notizia puoi leggere il testo completo qui. Leggi di più:

 /  🏆 8. in İT

Italia Ultime Notizie, Italia Notizie

Similar News:Puoi anche leggere notizie simili a questa che abbiamo raccolto da altre fonti di notizie.

Sylva: Midstream, downstream regulations will attract investment, boost local participation | TheCableThe Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says it has started reviewing the midstream and downstream petroleum regulations to accelerate investments in the sector. Timipre Sylva, minister of HETimipreSylva D one it has not attracted in the last 7years HETimipreSylva Oga you are speaking English. We don't have natural gas.
Fonte: thecableng - 🏆 2. / 80 Leggi di più »

NDIC warns Nigerians not to insure investment with fund managersDirector, Communication & Public Affairs Department, NDIC, Bashir Nuhu, stated this in a statement disowning claims by some fund managers that investment with them is covered by the corporation.
Fonte: NigeriaNewsdesk - 🏆 10. / 63 Leggi di più »