Manufacturers defy economic woes as investments up 24% in H1

Despite the economic headwinds in Africa’s biggest economy, investments in the manufacturing sector rose by 23.7 percent in the first half (H1) of 2022, new data from the Manufacturers Association of Nigeria have shown.

According to the association’s H1 economic review report released on Friday, investments in the sector rose to N178.4 billion in H1 from N144.1 billion in the corresponding period of 2021.