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Nairaland Forum / Nairaland / General / Business / Nigeria’s Manufacturing Sector Remains Steady (4213 Views)
Nigeria’s Manufacturing Pmi Grows To 57.8% In May 2019 / Nigeria's Manufacturing Sector Sustains Growth / Nigeria’s Manufacturing Sector Sustains Growth For Sixth Consecutive Month (2) (3) (4)
Nigeria’s Manufacturing Sector Remains Steady by Truth234(m): 6:15am On Nov 02, 2017 |
Manufacturing sector sustained growth for a seventh consecutive month in October, according to the data released by the Central Bank of Nigeria on Tuesday. The Manufacturing Purchasing Managers’ Index expanded 55 in the month, slightly lower than the 55.3 recorded in September but above the 50 level that divides expansion from contraction and suggests the sector remains steady as the economy continued to recover. Also, the report showed 11 of the 16 sub-sectors surveyed reported growth in October in the following order: plastics & rubber products; paper products; nonmetallic mineral products; chemical & pharmaceutical products; textile, apparel, leather & footwear; food, beverage & tobacco products; furniture & related products; primary metal; electrical equipment; printing & related support activities; and fabricated metal products. The gauge of new orders expanded 52.8 in the month, with 7 of the sub-sectors reporting growth, 2 remains unchanged while the remaining 7 contracted in October. This is below the 53.5 recorded in September when 10 sub-sectors reported growth. Manufacturing Production Index stood at 58.4 level in the month, indicating steady production in the manufacturing sector. But when compared to the 58.8 recorded in September, the pace of increase was slightly slower. However, inventories index grew 56.5 in October, faster when compared to September 2017. Suggesting that businesses are already preparing for the usual Christmas rush. Ten of the 16 sub-sector recorded growth in raw material inventories, while four sub-sector declined with two remaining unchanged. Employment in the sector grew at 53.1. Since the economy rebounded from recession in the second quarter, the Federal Government has deepened its effort at sustaining recovery and broadening economic growth in the non-oil sector. The Minister of Finance, Kemi Adeosun announced on Tuesday in Abuja that a record-high N797 billion was generated in revenue, Value Added Tax, between January and October 2017. This further validated improved effort at increasing revenue base as Nigeria looks to diversify the economy. http://investorsking.com/nigerias-manufacturing-sector-remains-steady/ 1 Like 1 Share |
Re: Nigeria’s Manufacturing Sector Remains Steady by Nobody: 6:38am On Nov 02, 2017 |
Only pure water manufacturing is steady 4 Likes |
Re: Nigeria’s Manufacturing Sector Remains Steady by bonechamberlain(m): 6:38am On Nov 02, 2017 |
where do all these reports come from. so much figures and improvement, zero impact. 4 Likes |
Re: Nigeria’s Manufacturing Sector Remains Steady by Titto93(m): 6:38am On Nov 02, 2017 |
ftc Aaaah! This two people already b4 me |
Re: Nigeria’s Manufacturing Sector Remains Steady by Ayodejioak(m): 6:40am On Nov 02, 2017 |
Re: Nigeria’s Manufacturing Sector Remains Steady by pilarnig(m): 6:40am On Nov 02, 2017 |
Them try |
Re: Nigeria’s Manufacturing Sector Remains Steady by Alexgeneration(m): 6:41am On Nov 02, 2017 |
Steady? Who comes up with these statistics and unfounded half truths? Lies, propaganda, deceit is all they know. We know 2019 is around the corner. 2 Likes |
Re: Nigeria’s Manufacturing Sector Remains Steady by Nobody: 6:46am On Nov 02, 2017 |
MY PRESIDENT IS WORKING. 3 Likes 1 Share |
Re: Nigeria’s Manufacturing Sector Remains Steady by Nobody: 6:47am On Nov 02, 2017 |
Steady my foot 1 Like |
Re: Nigeria’s Manufacturing Sector Remains Steady by XaviDayo(m): 6:50am On Nov 02, 2017 |
Forget all the lies biko. ... TEF don dey pay people o..... Nna. ..me no fit sleep. You talking to a millionaire right now. Money talk.....Bullshit. ...KipKwayet |
Re: Nigeria’s Manufacturing Sector Remains Steady by AishaBuhari: 6:51am On Nov 02, 2017 |
Nine comments above me agrees that this statistics are false... Over to the comments below me... 1 Like |
Re: Nigeria’s Manufacturing Sector Remains Steady by Bede2u(m): 6:52am On Nov 02, 2017 |
Yoruba olowole reporting |
Re: Nigeria’s Manufacturing Sector Remains Steady by datola: 6:52am On Nov 02, 2017 |
I think this is true because local production is becoming popular 5 Likes 1 Share |
Re: Nigeria’s Manufacturing Sector Remains Steady by eledalo: 6:52am On Nov 02, 2017 |
Steady like Titanic. Even BYC undershirt and razor blade can't be made in this country - look at the cost of energy alone. 2 Likes |
Re: Nigeria’s Manufacturing Sector Remains Steady by Spylord48: 6:54am On Nov 02, 2017 |
all these statistics sef 1 Like
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Re: Nigeria’s Manufacturing Sector Remains Steady by vecman22(m): 7:01am On Nov 02, 2017 |
The way this (ipob)pigs hate good news enh is alarming.. If the news were to be the other way round the pigs(ipob) would have been celebrating upandan 4 Likes 1 Share |
Re: Nigeria’s Manufacturing Sector Remains Steady by vecman22(m): 7:01am On Nov 02, 2017 |
uzoclinton: Why do Igbos(pigs) hate good news 4 Likes 1 Share |
Re: Nigeria’s Manufacturing Sector Remains Steady by Nobody: 7:08am On Nov 02, 2017 |
vecman22:ive lived in this country longer than you... I know propaganda when I see one. 2019 is fast approaching so things like this go dey spring up on a regular.... 2 Likes |
Re: Nigeria’s Manufacturing Sector Remains Steady by jomoh: 7:10am On Nov 02, 2017 |
God bless Nigeria 3 Likes |
Re: Nigeria’s Manufacturing Sector Remains Steady by vecman22(m): 7:14am On Nov 02, 2017 |
uzoclinton: But if the news is the other way round its not propaganda abi??why are you guys this bitter na,see one thing I can assure you and your fellow Igbos is buhari will be on that seat till 2023,so all this hate is just waste of time. 5 Likes 1 Share |
Re: Nigeria’s Manufacturing Sector Remains Steady by otokx(m): 7:15am On Nov 02, 2017 |
Why is the unemployment rate not reducing? |
Re: Nigeria’s Manufacturing Sector Remains Steady by Makanjuola89: 7:18am On Nov 02, 2017 |
are you sure? |
Re: Nigeria’s Manufacturing Sector Remains Steady by Nobody: 7:19am On Nov 02, 2017 |
vecman22:.. I understand where you are coming from and i dont blame you..... Nigeria is infested and damaged beyond repair by tribalism that is why a sane man like you would wish such wickedness on nigerians... 1 Like |
Re: Nigeria’s Manufacturing Sector Remains Steady by GavelSlam: 7:43am On Nov 02, 2017 |
otokx: It is reducing. I've noticed more threads on vacancies in the last 6 months here on Nairaland. 2 Likes |
Re: Nigeria’s Manufacturing Sector Remains Steady by vecman22(m): 7:50am On Nov 02, 2017 |
uzoclinton: Very true,tribalism have eaten down into our system so much which is why insane Igbos were wishing a particular badluck on Nigerians.... 2 Likes |
Re: Nigeria’s Manufacturing Sector Remains Steady by ksbusari(m): 8:07am On Nov 02, 2017 |
All Na lie jor bt i still prefer this administration to Jona Administration. 1 Like |
Re: Nigeria’s Manufacturing Sector Remains Steady by MaKenz: 8:08am On Nov 02, 2017 |
2019... Gbagam! Gbagam! Gbagam! |
Re: Nigeria’s Manufacturing Sector Remains Steady by henrylowe(m): 8:13am On Nov 02, 2017 |
I know Nigeria will be great again 1 Like |
Re: Nigeria’s Manufacturing Sector Remains Steady by diegwu01: 8:25am On Nov 02, 2017 |
Some Nigerians love and hope to read terrible News about the country everyday. the live terrible lives and expect everyone else to live same. Good and positive news bring so much pain /heartache to them and the vehemently resist it and condemn it. There are many of them here on Nairaland. Shame. |
Re: Nigeria’s Manufacturing Sector Remains Steady by Nobody: 8:51am On Nov 02, 2017 |
President Buhari is working |
Re: Nigeria’s Manufacturing Sector Remains Steady by jy2kbeyond(m): 9:00am On Nov 02, 2017 |
Steady in manufacturing what? Please pass me what you are smoking |
Re: Nigeria’s Manufacturing Sector Remains Steady by jy2kbeyond(m): 9:02am On Nov 02, 2017 |
vecman22: 2023? Bros why you dey swear na 1 Like |
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