Utilization of Local Raw-materials in the manufacturing sector increased marginally in the second half (H2) of 2019, attributable to the closure of the country’s land borders by the Federal Government during the period, the Manufacturers Association of Nigeria (MAN), has said.
Making Africans to believe in their products has been a serious challenge militating against the growth of indigenous brands for ages. But it also seems that strengthening African brands in a manner that will ensure they strongly compete with their counterparts from other parts of the world
Latest indicators from investment firms and analysts have shown that manufacturers in the consumer goods segment may suffer an average sales decline of three per cent this year, triggered by inability to pass inflationary pressures to consumers, weakened purchasing power and coronavirus.
Operators in the food, beverages and tobacco sub-sector have urged the Federal Government to address concerns bordering on over-regulation and continuous imposition of taxes via excise duties and other levies, if they must remain operational.