Growth in Nigeria’s manufacturing sector slowed to 1.38 percent in 2024 owing to worsening macroeconomic challenges amid shrinking consumer spending and high borrowing costs.
Data from the fourth quarter GDP report shows that growth in the sector saw a marginal decline of 0.02 percent from a 1.
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Josephine Okojie-Okeiyi
Josephine Okojie-Okeiyi is a journalist with over five years’ reporting experience. She writes on industry, agriculture, commodities, climate change, and environmental issues.
She is fellow of Thomson Reuters Foundation and Bloomberg Media Initiative for Africa.
