The Manufacturers Association of Nigeria (MAN) has raised alarm over the worsening state of manufacturing activities in the South-East, warning that rising energy costs and poor access to finance are forcing many companies in the region to shut down.

Chairman of MAN for Anambra, Enugu and Ebonyi states, Lady Ada Chukwudozie, disclosed this during the MAN South-East Stakeholders’ Industry Conversation held in Awka, Anambra State.

The forum was convened to address concerns surrounding electricity regulation, billing transparency and declining industrial productivity across the region.

Chukwudozie said the few factories still operating were doing so at less than 30 per cent of installed capacity due to soaring electricity tariffs, high energy costs and limited access to credit facilities.

According to her, the harsh operating environment informed the decision to convene the stakeholders’ roundtable, stressing that the manufacturing sector remains critical to economic growth, industrialisation and job creation.

She warned that unless urgent measures are taken to address the challenges confronting manufacturers, industrial activities in the South-East could further deteriorate, with serious implications for employment and regional economic stability.

“The manufacturing sector cannot thrive in an environment of uncertainty,” she said.

She called for reforms in the power sector to be driven by transparency, accountability and measurable performance standards, including agreed electricity supply hours, actual delivery levels and compensation mechanisms where supply consistently falls below expectations.

Chukwudozie also urged regulatory authorities to strengthen oversight of electricity providers and improve power supply to industrial clusters across the South-East.

Stakeholders at the forum expressed concern that manufacturers were increasingly struggling to cope with escalating production costs, worsened by unreliable electricity supply and the rising cost of alternative energy sources.

They noted that without affordable and stable energy, many more companies could either scale down operations or shut down completely.

In his keynote address, former Chairman and Chief Executive Officer of the Nigerian Electricity Regulatory Commission, NERC, Dr. Sam Amadi, urged governments in the South-East to adopt deliberate policies aimed at prioritising electricity supply to industrial clusters.

Amadi also advocated pricing frameworks that would encourage manufacturers to expand production and invest in growth.

The stakeholders’ meeting brought together manufacturers, regulators and other industry players to explore practical solutions to revive industrial output and tackle persistent power challenges affecting businesses in the region.

The post S/East companies shutting down over rising energy costs — MAN appeared first on Vanguard News.

By Elizabeth Adegbesan 

Nigeria’s Gross Domestic Product (GDP) rose to 3.89 per cent in the first quarter of this year, Q1’26, representing a 0.76 percentage point increase from the 3.13 per cent recorded in the same period of 2025, Q1’25.

However, the GDP growth in Q1’26, represents a 0.18 percentage points decline from the 4.07 per cent recorded in the fourth quarter of 2025, Q4’25.

Disclosing these yesterday, the National Bureau of Statistics, NBS, stated: “Gross Domestic Product (GDP) grew by 3.89% (year-on-year) in real terms in the first quarter of 2026, higher than the 3.13% recorded in the first quarter of 2025. During the quarter under review, agriculture grew by 3.15%, an improvement from the 0.07% recorded in the corresponding quarter of 2025. 

“The growth of the industry sector stood at 3.50% from 3.42% recorded in the first quarter of 2025, while the services sector recorded a growth of 4.31% from 4.33% in the same quarter of 2025.

“In terms of share of the GDP, the services sector contributed more to the aggregate GDP in the first quarter of 2026 at 57.73% compared to the corresponding quarter of 2025 at 57.50%. 

“Gross Domestic Product (GDP) grew by 3.89 percent (year-on-year) in real terms in the first quarter of 2026, higher than the 3.13 percent recorded in the first quarter of 2025.”

NBS noted that during the quarter under review, the services sector contributed more to the aggregate GDP at 57.73 percent.

“The real growth of the oil sector was 2.57 (year-on-year) in Q1 2026, indicating an increase of 0.70% points relative to the rate recorded in the corresponding quarter of 2025 (1.87%). Growth decreased by 4.22% points when compared to Q4 2025, which was 6.79%. On a quarter-on-quarter basis, the oil sector recorded a growth rate of 9.31% in Q1 2026. 

“The Oil sector contributed 3.92% to the total real GDP in Q1 2026, down from the figure recorded in the corresponding period of 2025 at 3.97%. and up from the preceding quarter, where it contributed 2.87%. 

“The non-oil sector grew by 3.94% in real terms during the reference quarter (Q1 2026). This rate was higher by 0.75% points compared to the rate recorded in the same quarter of 2025, which was 3.19%, and lower than the 3.99% recorded in the fourth quarter of 2025. 

“In real terms, the non-oil sector contributed 96.08% to the nation’s GDP in the first quarter of 2026, higher than the share recorded in the first quarter of 2025, which was 96.03%, and lower than the fourth quarter of 2025, recorded as 97.13%.” 

The post Nigeria’s GDP growth rises 3.89% in Q1’26 appeared first on Vanguard News.

By Efe Onodjae

Challenges arising from backlog clearing documents at the National Agency for Food and Drug Administration and Control, NAFDAC, and the Standards Organisation of Nigeria, SON, have slowed operations on the National Single Window, NSW, cargo clearing platform in the early phase of its rollout, officials NSW have disclosed.

Speaking during a media engagement in Lagos, Director of the NSW Secretariat, Tola Fakolade, said the platform experienced delays in approvals and processing due to difficulties encountered while reconciling data obtained from government agencies and international partners.

According to him, the challenges became more severe within the first few weeks after the platform went live, forcing authorities to establish a special data migration team to clean and transfer the records into the NSW system.

“We realised that because of the increasing pressure on approvals, we needed to provide some kind of temporary relief for importers affected by the migration challenges,” he said.

Fakolade disclosed that issues linked to SON approvals have since declined by over 60 per cent following interventions introduced by the NSW management, while about 99 per cent of complaints received on the platform had been resolved.

He explained that most of the remaining complaints were related to user knowledge gaps and documentation requirements rather than system failures.

The NSW director also revealed that the platform processed 39,039 applications for licences, permits, certificates and other trade-related documents within eight weeks of the deployment of phase one.

A breakdown of the applications showed that SON accounted for about 79 per cent of total submissions with 30,937 applications, while NAFDAC represented roughly 20 per cent with 7,942 applications.

The National Environmental Standards and Regulations Enforcement Agency, NESREA, processed 138 applications, while the Nigeria Agricultural Quarantine Service, NAQS, handled 22 applications within the review period.

Fakolade further disclosed that 7,567 users had been onboarded onto the platform, comprising importers, freight forwarders, licensed customs agents and clearing agents.

The post NAFDAC, SON hiccups slow single window rollout  appeared first on Vanguard News.