80% of Nigeria's manufacturers won't hire new staff on slow growth

80% of Nigeria’s manufacturers won’t hire new staff on slow growth

Cost of funds highest in Edo/Delta industrial zone

Manufacturers in Edo/Delta industrial zone spent an average of 26.8 percent to access credit from banks and other financial institutions.

Eight in 10 Nigerian manufacturers do not plan to hire more employees in the nearest future, the result of FBNQuest’s Purchasing Managers’ Index (PMI) survey has shown. This means there is no relief in sight for Nigeria’s unemployment rate that ranked the world’s second-highest in 2020.

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