Nigeria's Manufacturing Sector Faces N1.92 Trillion Credit Crunch
Nigeria's manufacturing sector is grappling with a N1.92 trillion decline in credit, threatening the nation's industrialization drive. This credit crunch comes despite manufacturers remitting a record N330 billion in VAT over three months.
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Manufacturing credit drops N1.92tn amid funding gaps
Commercial bank credit to Nigeria’s manufacturing sector fell by N1.92tn. Learn why funding gaps and high lending rates are stifling manufacturing credit. Read More: https://punchng.com/manufacturing-credit-drops-n1-92tn-amid-funding-gaps/
By Punch Newspapers
Read full article →N1.92trn credit crunch threatens Nigeria’s industrialisation drive – MAN
By Yinka Kolawole The Manufacturers Association of Nigeria (MAN) has raised concerns over the sharp decline in bank credit to the manufacturing sector, warning that the development could undermine industrial growth, worsen unemployment and jeopardise the implementation of the Nigeria Industrial Policy (NIP) 2025. In a statement issued yesterday, MAN Director-General, Segun Ajayi-Kadir, noted that […] The post N1.92trn credit crunch threatens Nigeria’s industrialisation drive – MAN appeared fi...
By Urowayino Jeremiah
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