Output of members of the Manufacturers Association of Nigeria (MAN), including large enterprises such as Dangote Group, Flour Mills of Nigeria and PZ Cussons, hit N4.76 trillion in the first (H1) of 2018.
According to a recent survey by MAN, output stood at N4.76 trillion, representing N0.90 trillion (1.9 percent) increase from N4.67 trillion recorded in the corresponding half of 2017.
However, this represents a decline of N0.27 trillion (5.4 percent) when compared with N5.03 trillion reported in the preceding half.
“The production performance of the sector in the half was largely due to the general sluggishness of the Nigerian macro economy in the period,” MAN says.
Production in food, beverage & tobacco sector, which always accounts for largest production in the sector, slowed to N1.55 trillion in the first half of 2018, representing N0.13 trillion (7.7 percent) from N1.68 trillion in the corresponding half of 2017.
Production in pulp, paper & paper products, printing, publishing & packaging (6Ps) group stood at N63.38 billion in first half of 2018, representing N3.49 billion (5.8 percent) increase from N57.89 billion recorded in the corresponding half of 2017. It however, declined by N2.07 billion (3.2 percent) from N65.45 billion recorded in the preceding half.
Production in chemical & pharmaceutical group stood at N336.61 billion in the first half of 2018, down by N15.64 billion (4.4 percent) and N20.92 billion (5.9 percent) from N352.25 billion and N357.53 recorded in the corresponding half of 2017 and the preceding half ( H2 2017) respectively.
Domestic & industrial plastic group stood at N166.21 billion in the first half of 2018, down by N2.38 billion (1.4 percent) and N13.88 billion (7.7 percent) from N168.59 billion and N180.09 billion recorded in the corresponding half of 2017 and the preceding half respectively.
Production in basic metal, iron & steel group stood at N187.42 billion in the period under review, representing N13.91 billion (6.9 percent) and N17.7 billion (8.5 percent) slowdown from N201.33 billion and 207.12 billion in the corresponding period of 2017 and the preceding half respectively.
“Production performance across industrial zones was a mixed-bag as it increased in some branches and decreased in the others,” MAN says.
Production in Ogun branch stood at N2.11 trillion in the first half of 2018, representing N0.63 trillion (42.6 percent) rise in the corresponding half in 2017.
Production in Apapa zone stood at N386.79 billion in the review period, representing N82.14 billion (27.0 percent) increase from N304.65 billion recorded in the corresponding half of 2017. Production in the zone, however, declined by N36.0 billion (8.7 percent) when compared with N423.59 billion in the preceding half.
MAN is made up companies Dangote Group, PZ Cussons, Flour Mills of Nigeria, Honeywell, Aarti Steel, Nigeria Foundries, African Paints, Cabdury and Nigerian Breweries, among many others.
The firms all together invested N4.43 trillion between January 2013 and June 2018.
ODINAKA ANUDU
