Capacity utilisation in the manufacturing sector increased to 57.9 per cent year-on-year in the first half of 2022 from 52.2 per cent recorded in the same half in 2021.
This was stated in the Executive Summary of H1 2022 Economic Review by Manufacturers Association of Nigeria (MAN). According to the review, this indicates 5.7 percentage point decline over the period. However, it declined by 1.1 percentage points (half-on-half) from 59 percent recorded in second half of 2021.
“The oscillatory and sub-optimal capacity utilisation of the sector in the period under review aligned with the risks and difficulties posed by the lingering effect of COVID-19 pandemic and the adverse impact of the Russian-Ukrainian war such as the rising commodity prices and disruption of global supply chain in the period.
