Manufacturing Production Value stood at N7.38 trillion as against N5.22 trillion recorded in 2018

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The Six Months operational reports of the Manufacturers Association of Nigeria (MAN) disclosed in Economic Review for Second Half of 2019 report released in Executive Summary format over the week revealed that the manufacturing production value stood at N7.38 trillion as against N5.22 trillion recorded in the corresponding half of 2018; thus indicating N2.16 trillion or 41.8 percent increase over the period.

 

Equally, it increased by N2.77 trillion or 60 percent when compared with N4.61 trillion recorded in the preceding half in the 2018.

 

The report further stated that production value in the sector totaled N11.99 trillion in 2019 as against N9.98 trillion recorded in the 2018; thus, representing N 2.01 trillion or 20.1 percent increase over the period.

 

The increased manufacturing production in the period was ascribed to increase in volume of activity in some sectors on account of border closure and the relative tranquility in the forex market within the period.

 


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