Wednesday, July 17, 2019
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Manufacturers predict depreciation in naira

..Lament poor packaging of 2019 budget

Manufacturers Association of Nigeria, MAN, has expressed fears that there may be a further depreciation of the value of Naira in 2019 due to the recent pressure on the country’s external reserve due to the continuous dip in oil prices and the usual withdrawal of foreign capital as a result of anticipated political uncertainty.

Advocacy key to improved performance of manufacturing sector in Nigeria - MAN

President, Manufacturers Association of Nigeria (MAN) Dr. Frank Jacobs has said that the improved performance of the manufacturing sector is as a result of the intensity of its advocacy, resilience and ingenuity to drive economic rebound.

MAN frowns at Morocco admittance into ECOWAS

Manufacturers Association of Nigeria (MAN) has vehemently opposed the admission of Morocco into the Economic Community of West African States (ECOWAS) union. The Association warned the Federal Government against supporting such a notion at its 45th Annual General Meeting (AGM), held on Thursday in Lagos, revealing that it will have a disastrous effect on the nation’s manufacturers.

CBN prevents closure of 200 manufacturing firms through forex access
The Central Bank of Nigeria, CBN, has averted the closure of over 200 companies in the manufacturing sector of the economy through its recent allocation of foreign exchange to the affected industries to bring in their raw materials. Recall that the apex bank had in a bid to stabilise the exchange rate, in protection of foreign reserves, following oil price decline, excluded 41 products from access to the foreign exchange market (interbank foreign exchange market and Bureau de Change).

Austine Bathezs, a 24-year-old, who allegedly stabbed a man to death and dispossessed him of his motorcycle, has been remanded at Ikoyi Prisons, Lagos.
Magistrate E.O. Ogunkanmi of an Ebute Meta Chief Magistrates’ Court said the accused should be kept behind bars pending advice from the State Director of Public Prosecutions (DPP).

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