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Farooq

Posts Tagged "Manufacturers association of Nigeria"

HomePosts Tagged "Manufacturers association of Nigeria"
  • CBN

With the Central Bank of Nigeria (CBN) sustaining its foreign exchange intervention in the real sector for importation of key raw materials, the manufacturing sector’s raw materials inventory index grew for the third consecutive month to close at 52.3 points. This is just as the Manufacturing Purchasing Managers’ Index (PMI) increased to 52.9 index points […]

Anna Okon and Success Nwogu The Manufacturers Association of Nigeria has faulted the implementation of the Central Bank of Nigeria’s directive on 60 per cent forex allocation to manufacturers, describing it as very poor.  The President of the association, Dr. Frank Jacobs, stated this in Lagos on Thursday during the MAN Annual Media Luncheon. MAN, […]

The Federal Government, in a bid to ease the burden of the current economic recession on the manufacturing sector, is planning some form of tax relief for the sector. The Minister of Finance, Mrs. Kemi Adeosun, dropped the hint on Wednesday in Abuja while responding to questions from journalists at the end of the Federation […]

  • CBN

Despite complaints by members of the Organised Private Sector (OPS) on access to foreign exchange to import raw materials, latest figures from the Central Bank of Nigeria (CBN) show that not less than 1,342 manufacturers and allied firms received $660.17 million from the apex bank through Deposit Money Banks (DMBs) for importation of raw materials, […]

The Manufacturers Association of Nigeria on Thursday said the Central Bank of Nigeria’s flexible exchange rate policy had culminated to N500 billion losses for manufacturers. Babatunde Odunayo, the Chairman of MAN, Apapa, Lagos State Branch, made the assertion during the branch’s 45th Annual General Meeting in Lagos. According to him, Letters of Credit and Form […]

Banks are not co-operating with the Central Bank of Nigeria (CBN) on forex policy, Manufacturing Association of Nigeria (MAN) President Dr. Frank Udemba Jacobs has said. Dr Jacobs said the CBN was sensitive to the plight of the manufacturing sector, but it was unfortunate the apex bank’s good intention were being frustrated by those who […]

The Manufacturers Association of Nigeria has called for the adoption of concessionary Forex allocation mechanism to enhance productivity in the nation’s manufacturing sector and be more competitive. Dr. Frank Jacobs, the President of the association, made the call in an interview with the News Agency of Nigeria on Tuesday in Abuja. He said that the […]