The Manufacturers Association of Nigeria (MAN) has reported a significant downturn in the manufacturing sector, with 767 companies shutting down operations and 335 experiencing distress in 2023.
MAN attributes this trend to economic difficulties, including exchange rate volatility and rising inflation, impacting the sector’s performance and sustainability.
MAN has criticized the Federal Government’s Expatriate Employment Levy EEL, arguing that it contradicts President Bola Tinubu’s Renewed Hope Agenda and could worsen conditions for manufacturers.
MAN called on President Tinubu to reconsider the EEL’s implementation, warning of its negative impact on the sector and the broader economy.
