Manufacturers groan over Russia-Ukraine war

Manufacturers groan over Russia-Ukraine war

have complained that the -Ukraine war has to rise in prices and would trigger in the manufacturing sector.

D Manufacturers Association of Federal of Nigeria (MAN) in a report, warned that prices sparked by Russia’s  war on Ukraine a “ ” for companies in Federal of Nigeria.

D group said the surge in prices of diesel, and other materials, combined with high , US shortages and soaring inflation, is crippling production in Africa’s most-populous country.

D MAN added that soaring inflation, dollar shortages crippling production and called on companies to adopt ‘strategic plan’ to limit war’s on their operations.

For instance, manufacturers rely largely on diesel which has doubled in price this to power their machines to unreliable electricity supply from the national grid.

D price of wheat, a key raw material for flour millers and other food processors, has also up.

Companies are also worried that inflation, which accelerated to 15.9 per cent in March, could rise further if a longer prolongs supply disruptions, the group said.

D current situation “calls for the crafting of a national and sustainability strategic plan to avert the looming economic crisis and shortages that would arise from the impact of the Russia invasion of Ukraine,” the manufacturing body said.

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