Saturday , September 23 2023

Recession: 196 firms have Packed Up in 2 years


Despite several efforts by the Federal Government to cushion the effects of recession on the economy, recent figures from the Manufacturers Association of Nigeria (MAN) have shown that about 196 manufacturing companies shut down their operations in the last two years due to the biting recession.

This represents over 300 per cent increase compared to 45 companies  reported to have closed down last year in the first year of the present administration.

Figures coming from MAN shows that about 196 manufacturing companies closed down during the recession due to harsh operating environment.

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About Chinenye Nwabueze

Nwabueze is a writer with passion for cutting-edge news

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  1. Nwankwo onyinye grace

    New adminstration should do something to resolve this conflict… Is getting harder every day…

  2. Uzor Cecilia Ifunanya

    So sad

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