Capacity utilisation in the manufacturing sector increased to 59 per cent in the second half of last year from 53.7 per cent recorded in the corresponding half of the previous year, indicating 5.3 percentage points increase over the period.
It increased by 6.6 percentage point when compared with 52.4 per cent recorded in the preceding half. Capacity utilisation in the sector averaged 58.9 per cent in 2021 from 49.5 per cent average of 2020.
The Manufacturers Association of Nigeria (MAN) ‘Second Half-Economic Review 2021’ (July-December 2021) attributed the increase in manufacturing capacity utilisation to the easing of economic and social restrictions meant to contain the COVID-19 pandemic and the full rebounding of economic activities globally and in Nigeria within the period…
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