Nigeria’s Macroeconomic Gains Yet to Ease Manufacturing Pressures

Nigeria’s economy is beginning to show signs of greater stability, supported by stronger GDP growth, easing inflation, improved manufacturing performance and a more stable exchange-rate environment.

Despite these positive developments, many manufacturers are still facing significant operating pressures, as improvements in headline economic indicators have not yet translated into lower costs across the factory floor.

Speaking in an interview with Nairametrics, the Chairman of the Alliance for Economic Research and Ethics Ltd/GTE (AERE), Hon. Dele Kelvin Oye, said recent government reforms have helped strengthen Nigeria’s macroeconomic foundation.

He noted, however, that businesses continue to grapple with high energy expenses, costly financing, logistics challenges, multiple taxes and elevated input costs, all of which continue to affect productivity and competitiveness.

Oye said the next stage of the reform agenda should focus on ensuring that improving macroeconomic conditions deliver practical benefits to manufacturers through lower production costs, stronger productivity and a more competitive industrial sector.

Read the full interview on Nairametrics: Read More

Alliance for Economic Research and Ethics (AERE)
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