The value of raw materials imported into the country rose Year-on-Year, YoY, by 160.9 percent in the second quarter of 2024 (Q2’24) despite efforts at backward integration by manufacturers to ease the ...

Although, there was marginal recovery of some key manufacturing indicators in the fourth quarter of 2021, the sector’s dependence on imported raw materials and its attendant high cost took its toll.

Despite the Backward Integration to allow development and sourcing of raw sugar in Nigeria, major producers of refined sugar imported 953,971bn worth of raw sugar into the country to be processed for ...