Introduced in 2002, it was operated through tariffs, levies and tax breaks. In the last few years Nigerian manufacturing has shown some degree of recovery. Manufacturing’s share in output increased to 9.3% in 2017, up from 6% in 2002 (calculations based on UN National Accounts). The policies were initially designed for cement and beverages. They were later extended to sugar, rice, tomato paste, automotive, oil and gas and textiles. The changes led to Nigeria emerging as the largest cement producer in sub-Saharan Africa. Dangote Industries Limited dominates the Nigerian cement market and is a key player in the rapidly expanding African cement business. The conglomerate has also expanded its manufacturing activities in a range of food processing industries such as sugar and salt. This expansion has made it the biggest group listed on the Nigerian Stock Exchange.
SOURCE: THE CONVERSATION
More Stories
Best Style Moments of Tems
To the World
From ‘The Woman King’ to Netflix’s ‘African Queens’ – How Africa’s History Went Pop
Who is Pretty Yende, the Soprano Performing at King Charles III’s Coronation?
Discover Dakar: From African Art to Rooftop Hangouts and Culinary Gems
Graffiti Now Covers the Walls of Libya’s Ancient City, a UNESCO World Heritage Site
When to Visit Malawi
The Beauty about Exploring Africa is that the Continent has a Lot to Offer
Ugandan Kids get Introduced to Irish Dancing Via Online Lessons
Get a Symmetrical Trim at this Kenyan Barber
Standard Bank Hosts Central Bankers to Demonstrate Africa’s Potential to Learn – and Lead
Ghana’s Debt Crisis is Affecting Companies Beyond its Borders