The ongoing economic recovery plan has started impacting the economy after data showed the manufacturing sector expanded for the second consecutive month in May.

According to the Purchasing Managers’ Index (PMI) report for May, the index stood at 52.6, indicating the manufacturing sector is sustaining April growth following the introduction of investors and exporters forex window. This is above the 50 level separating expansion from contraction.

The report released by the Central Bank of Nigeria, CBN, showed 10 of 16 the sub-sectors reported grew in May. While, the remaining 6 sub-sectors declined in this order: transportation equipment; nonmetallic mineral products; fabricated metal products; printing & related support activities; furniture & related products and computer & electronic products.

Also, the report showed that production index for manufacturing surged to 58.7 in May from 58.5 recorded in April. Making it the third consecutive month increase.

“The surge in the manufacturing activities further validated the ongoing business policy by the federal government to ease business and ensure manufacturers access forex at a market-determined rate,” said Samed Olukoya, a foreign exchange research analyst at Investors King Ltd.

“Gradually confidence is returning to the market as you can see from the surge in the index for new orders,” he added.

The new order index for May rose to 50.5, this is the second consecutive growth in new orders this year.

Naira gained against the greenback to trade at N374 a dollar.

http://investorsking.com/nigerias-manufacturing-sector-expands-may/ mynd44

three ftcs in one day

their fathers!!!!!!!!

back to the topic this is good news and only happens when yemi bobo is the acting president

osinbajo till rapture

Duy

Wonderful. What I want to see is manufacturing of technological products. Seems we're running away from that.

Expanded ? What are we manufacturing ?
Don't quote me unless you are inviting Patrick Sawyer

Please
What are we producing ooooooooh
Can someone explain

Just wait for the arrival of Children of Hatred and Wailers to argue about this and claim it is propaganda, but if it is bad news concerning Nigeria, their Osu legs will hasten to dance Skelewu to it.

Truth234:
The ongoing economic recovery plan has started impacting the economy after data showed the manufacturing sector expanded for the second consecutive month in May.


The report released by the Central Bank of Nigeria, CBN, showed 10 of 16 the sub-sectors reported grew in May. While, the remaining 6 sub-sectors declined in this order: transportation equipment; nonmetallic mineral products; fabricated metal products; printing & related support activities; furniture & related products and computer & electronic products.


http://investorsking.com/nigerias-manufacturing-sector-expands-may/ mynd44

Lies from the pit of APC, CBN is just countering the report tHat Nigeria has faced the worst recession in 25 years, Please fool the gullible, Osinbajo is just an Uncle Tom who stod by while christains were slaughterd.APC is unredeemable.NEXT!!!!!

.

..

...

tdayof:
Wonderful. What I want to see is manufacturing of technological products. Seems we're running away from that.

That will take years and amkunt if money to achieve as we would have to start from the primary school level. Our education system don't have regulators, researchers etc. It's been like this since 1969.

....

Of course

Importing is becoming expensive.

Lie Mohammed at it again.

Good development!

I appeal to Nigerians (the right thinking) to buy made in Nigeria goods. They should overlook some imperfections in them for now.

In no time standards will set in with competitions, high standard products will come out of Nigeria.

I remember some years back at the Kotoka International Airport, Ghana, some Ghanaian marketed their chocolate to me claiming Ghanaian chocolate is the best in the world as it has zero percent milk.

History has it that Japanese products used to be very substandard. They took the hard decision of operating a closed economy by shunning imported products. They operate one of if not the production process in the world.

If we do this little gesture of buying our products, we have a lot to benefit, ranging from jobs, less crime, dollar rate coming down, etc

hucienda:
Finally. Some good news. Kudos Buhari.

Kudos for the absentee president?
Anyway, do you know if this was the reason for the corruption reported below?


https://www.nairaland.com/3835120/reps-summon-adeosun-over-n17

we made it happen.....

SuperS1Panther:
Just wait for the arrival of Children of Hatred and Wailers to argue about this and claim it is propaganda, but if it is bad news concerning Nigeria, their Osu legs will hasten to dance Skelewu to it.

you are always bitter and frustrated, Who will redeemed this condemned soul from bitterness and anger

datola:
Good development!

I appeal to Nigerians (the right thinking) to buy made in Nigeria goods. They should overlook some imperfections in them for now.

In no time standards will set in with competitions, high standard products will come out of Nigeria.

I remember some years back at the Kotoka International Airport, Ghana, some Ghanaian marketed their chocolate to me claiming Ghanaian chocolate is the best in the world as it has zero percent milk.

History has it that Japanese products used to be very substandard. They took the hard decision of operating a closed economy by shunning imported products. They operate one of if not the production process in the world.

If we do this little gesture of buying our products, we have a lot to benefit, ranging from jobs, less crime, dollar rate coming down, etc

Great post.
However the public servants whom we employed with our votes to run our government are obviously not "right thinking" Nigerians. Look at the furniture in their offices and homes. Look at the clothes and shoes that they wear. Look at the materials that they use to build houses, schools, clinics etc.
They even send their children to universities abroad despite being VCs of Nigerian universities that they are shutting down because students complain about lack of ID cards. The ID cards are probably not available because the VC stole the money and used it to pay the fees for his child studying abroad.
Many youths who praise their yeyebrities for posting pictures of slays and swagger vacations in Dubai, Florida, Italy etc do not realise how it adds to their own UNEMPLOYMENT.
So sad really.

ehie:

Lies from the pit of APC, CBN is just countering the report tHat Nigeria has faced the worst recession in 25 years, Please fool the gullible, Osinbajo is just an Uncle Tom who stod by while christains were slaughterd.APC is unredeemable.NEXT!!!!!

What? CBN released the data yesterday. Here is a link to CBN report

https://www.cbn.gov.ng/Out/2017/SD/PMI_Report_May%202017.pdf

AnambraDota:


you are always bitter and frustrated, Who will redeemed this condemned soul from bitterness and anger

It is only Children of Hatred, Cousins of Benjamin Netayanhu that are always bitter, angry and envious of others.

9jakohai:
Of course

Importing is becoming expensive.

That is why having a devalued naira makes great sense.
China has built itself into an economic powerhouse by deliberately undervaluing its currency to make imported goods expensive in addition to having discouragingly high tariffs.
You can read the news in the link below:

https://mobile.nytimes.com/2017/04/11/business/economy/trump-china-currency-manipulation-trade.html


Person wey never suffer well well, how im want take enjoy in a sustainable manner?
How?

BedLam:
That will take years and amkunt if money to achieve as we would have to start from the primary school level. Our education system don't have regulators, researchers etc. It's been like this since 1969.

Unfortunately, Buhari and APC have no plans for making education of all our children their priority.
Katsina state is so backward in enrolment and WAEC/JAMB scores despite being the state of Buhari, Yar'Adua and other people who have ruled Nigeria for several years.
Even Lagos state that has been ruled by Tinubu, Fashola and Ambode cannot boast of 100% enrolment of children in schools, talk less of having adequate teachers, classrooms, laboratories, libraries and Quality Assurance Monitors.
We are all jokers praying and fasting for divine intervention instead of slavishly working away in the laboratories.

how

Big lies.

Cooked up figures.

Expanded to where abeg? Things are very expensive in the markets o

Can this acclaimed growth cause some reduction in the prices of goods manufactured in Nigeria?

We need to see the impact of these figures in the economy, not on the papers please.[color=#006600][/color]