Nigeria’s manufacturing sector loses N30bn revenue

Image result for Nigeria's manufacturing sector loses N30bn revenueThe manufacturing sector recorded a decline of about N30bn in output in the first quarter of this year.

An analysis of the Gross Domestic Product report by the NBS showed that the sector recorded a total output of N2.66tn at the end of the fourth quarter of 2017.

The sector has been badly hit by the harsh operating environment, which took its toll on the profit margins of many companies operating in that segment of the economy.

There are 13 sub-sectors that make up the manufacturing sector.

Out of the 13 sub-sectors that made up manufacturing sector, five recorded increase in economic performance between December 2017 and March this year, while eight recorded decrease in productivity.


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