manufacturing sector Nigeria
LCCI warns on economic risks of low real sector investment
The Lagos Chamber of Commerce and Industry (LCCI) has raised concerns over the continued decline in foreign direct investment (FDI) in Nigeria’s real sector, warning that the imbalance in capital inflows poses long-term risks to economic growth, industrialisation, and job creation. In a statement issued on Thursday, the Director-General of LCCI, Dr. Chinyere Almona, said […]
MAN: US Tariff Hike on China May Boost Nigeria’s Intra-African Trade
The Manufacturers Association of Nigeria Export Promotion Group (MANEG) has said Nigeria stands to gain from the recent trade tensions between the United States and the BRICS bloc, following President Donald Trump’s threat to impose an additional 10 percent tariff on countries aligning with the group. However, the association warned that the move could also […]
Nigeria’s Imports Decline by 7% in Q1 2025 as Demand for Foreign Goods Drops
Nigeria’s appetite for imported goods has waned in early 2025, as official data shows a 7% decline in import value in the first quarter of the year, signaling tighter consumer demand and persistent macroeconomic pressures on trade. According to the latest Foreign Trade in Goods Statistics report released by the National Bureau of Statistics (NBS), […]