From Victor Osula, Abuja The Manufacturers Association of Nigeria (MAN) has raised concerns over the rising stockpile of unsold finished goods in 2024, which has hit N2.14 trillion amid surging production costs, weak consumer demand, and inflationary pressures. The Director-General of MAN, Segun Ajayi-Kadir, disclosed this in the association’s second half 2024 economic review report released on Monday. He noted that the inventory of unsold goods jumped by 87.5 percent year over year, although it dropped 27.9 percent compared to the first half of the year. Ajayi-Kadir explained that sectors such as food, beverage and tobacco, as well as textile, apparel and footwear, were the most affected, recording the highest volume of unsold goods While capacity utilisation recorded a slight …
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In a bid to solidify the partnership fostered through the Nigeria–South Africa Bi-National Commission—recently inaugurated by President Bola Ahmed Tinubu and President Cyril Ramaphosa—the Ministers of Solid Minerals of both nations have signed a Memorandum of Understanding (MoU) outlining key areas of cooperation, complete with implementation timelines. During a bilateral meeting at his office in Abuja, the Minister of Solid Minerals Development, Dr. Dele Alake hosted South Africa’s Minister of Mineral Resources and Energy, H.E. Gwede Mantashe. Dr. Alake described the engagement as a milestone in deepening bilateral relations, especially in the vital mining sector. Reflecting on the historical ties between the two countries, Alake noted the longstanding diplomatic and economic cooperation built on mutual respect and a shared vision …
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