The outlook for Nigeria’s manufacturing sector in the fourth quarter of 2024 looks bleak, according to the Manufacturing Association of Nigeria.
Ajayi-Kadir acknowledged that recent economic developments, including the naira-for-crude sale deal between the Nigerian National Petroleum Company and the Dangote Refinery, could bolster the sector’s performance in Q4.
So, there will be more availability in the domestic economy.”The MAN DG said the path to a better manufacturing sector performance focused on the need for policy stability and a reduction in the volatility of supply and prices.
“Our manufacturing sector is highly exposed and sensitive to developments in the foreign exchange markets,” he remarked.
The CPPE director urged swift government intervention in the forex market as a way to improve the Q4 outlook of the manufacturing sector.
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