Nigeria's drive to become Africa's manufacturing powerhouse received a major boost recently, as studies showed an expansion in the manufacturing sector in recent months.


Nigeria’s manufacturing sector gains momentum in November, first time in 6 months


The manufacturing PMI rose to 50.2 points in November from 49.4 points recorded in October and 46.9 in September 2020.

The Manufacturing sector gained momentum in November as the manufacturing Purchasing Managers’ Index (PMI) rose to 50.2 points, after enduring six months of contraction due to the pandemic induced lockdown.

This was disclosed in the latest PMI report, published by the Central Bank of Nigeria (CBN).
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Made in Nigeria - Innoson Vehicle Manufacturing Ltd.

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Manufacturing PMI

According to the report, the manufacturing PMI rose to 50.2 points in November from 49.4 points recorded in October and 46.9 in September 2020.

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What this means

PMI is a survey that is conducted by the Statistics Department of the Central Bank of Nigeria and shows the changes in the level of business activities in the current month compared with the preceding month.

For each of the indicators measured, this report shows the diffusion index of the responses, which is computed as the percentage of responses with positive change plus half of the percentage of those reporting no change, except for supplier delivery time, which is computed as the percentage of responses with negative change plus half of the percentage of those reporting no change.

A composite PMI above 50 points indicates that the manufacturing/non-manufacturing economy is generally expanding. 50 points indicate that there is no change, while a PMI below 50 points indicates that it is generally contracting.

The boost in the manufacturing PMI indicates that the Nigerian manufacturing sector is recovering from the effects of the lockdown, which saw many businesses halt operations and value chains disrupted.

Nigeria will hope to recover completely as it moves to turn around an impending economic recession.

https://nairametrics.com/2020/11/18/nigerias-manufacturing-sector-gains-momentum-in-november-first-time-in-6-months/

The country wishes to compete with fellow African countries like SA and other global competitors, yet it keeps strangulating business owners with its economic policies and practices.
Until the government understands that, the private sector needs certain conditions to thrive then they are just bluffing.

So we have been reading and hearing

Stable electricity is the powerhouse of manufacturing....other factors are supplementary.

No country generating 5,000 megawatts of electricity for 200 million people can ever become an industrial powerhouse. It's simply not possible. South Africa is generating 40,000 megawatts for a population of 50 million, now you do the maths and know who is actually an industrial powerhouse.

If Nigeria really wants to become an industrial powerhouse, we should be generating at least 100,000 megawatts.

BastardWike:
No country generating 5,000 megawatts of electricity for 200 million people can ever become an industrial powerhouse. It's simply not possible. South Africa is generating 40,000 megawatts for a population of 50 million, now you do the maths and know who is actually an industrial powerhouse.

If Nigeria really wants to become an industrial powerhouse, we should be generating at least 100,000 megawatts.

We Are just deceiving ourselves in Nigeria. 5000 mega watts for 200m population?

BastardWike:
No country generating 5,000 megawatts of electricity for 200 million people can ever become an industrial powerhouse. It's simply not possible. South Africa is generating 40,000 megawatts for a population of 50 million, now you do the maths and know who is actually an industrial powerhouse.

If Nigeria really wants to become an industrial powerhouse, we should be generating at least 100,000 megawatts.

No mind am.

Powerhouse my backside.

Moronic dreams.

2019 Campaign promise,
Stable Electricity, good roads,
2023 Campaign promise,
Stable Electricity, good roads
2027 campaign promise,
Stable Electricity, good roads,

Una no dey tire to be foolss?