Manufacturing Investments Crash By 35 Amid Rising Cost Of Finance

Stories by Yinka Kolawole

High cost of financeoccasioned by rising interest rates, among other factors, led to a 35.3 percent crash in investments in the manufacturing sector to N658.81 billion in 2024 from N1.018 trillion in 2023.

This was reflected in the Second Half of 2024 H224 Economic Review of the Manufacturers Association of Nigeria MAN.

It however noted that there was an increase in manufacturing investments in H224 compared to H124.

Real manufacturing investment fell by 35.3 percent year-on-year to N658.81 billion in 2024, reflecting economic uncertainty and reduced expansion plans.