The lingering foreign exchange and power sector crises have contributed to the shutdown of over 50 companies,More than 50 Nigerian manufacturing companies have shut down in the last five years, according to investigations bySome of the manufacturing companies that have exited the industry in the last five years include: Surest Foam Limited, Mufex, Framan Industries, MZM Continental, Nipol Industries, Moak Industries, and Stone Industries.
These industries are located in Lagos, Ota , Agbara, Jos , Bauchi, Kano, Nnewi and other parts of Nigeria.checked the websites of these firms and found that many were no more functional. Even the contact phone numbers on the websites of many of them were not going through. In some cases, the telecoms companies informed our correspondent that the numbers did not exist.
Similarly, GSK Nigeria closed down its drug manufacturing plant at Agbara, Ogun State, in the third quarter of 2021, and moved into a contract manufacturing alliance with Fidson Healthcare. that his agro-based company was shut down due to the foreign exchange crisis bedeviling the industrial sector.
It is not a new story.
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one expects the Labour Congress to response to issues like this, but...it isn't in the DNA of the current crop of NLC/TUC's leadership to frontally engage the issues & those holding at the jugular, the critical mass & the productive sector. This Labour has lostCourse lostVoice
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