The manufacturing sector has recorded a 52 per cent increase in unsold finished goods in six months, a new report by the Manufacturers Association of Nigeria has shown. This was despite a 32 per cent (N1.31tn) decrease in the manufacturing sector factory output in the second half of 2022, when compared with N3.99tn recorded in the preceding half of the year. These were contained in the Manufacturers Association of Nigeria’s Bi-Annual Economic Review report. The document presents summary of findings of survey of the manufacturing sector by MAN for the second half of 2022. According to the report, the value…

The stock market of the Nigerian Exchange Limited (NGX) depreciated by N1.01trillion in April 2023 amid impressive 2022 financial year corporate earnings and dividend payout to shareholders by listed companies. Although the stock market has gained 2.25 per cent in four months of 2023, inflationary pressure, scarcity of foreign exchange, among other macroeconomy challenges have continued to erode investors’ participation in low-priced fundamental stocks listed on the Exchange. Specifically, the overall market capitalisation of the NGX closed April 2023 at N28.534trillion, dropping by N1.01trillion or 3.42 per cent from N29.544trillion, while NGX All-Share Index dropped by 3.37 per cent to…

There's a leadership theory that most people don't talk about called "Leader-Member Exchange," or LMX for short. The idea is based on the relationships between leaders and those reporting to them. There is a relationship between leaders and followers and that relationship's stability makes organizations work. I have written before that people leave because of their manager – this is why. To say that another way, if leaders want to scale their organizations and maintain a healthy retention rate, they need to understand they have a relationship with each of their employees. The health of relationships is the crux of…

Exxon Mobil Corp resumed operations at its facilities in Nigeria after resolving a labour dispute over pay and conditions with its in-house union, a company spokesperson said on Thursday. The industrial action had forced Exxon to declare force majeure on oil liftings at its terminals in the country. A spokesperson for Exxon said in email responses that its three ventures, Mobil Producing Nigeria Unlimited, Esso Exploration and Production Nigeria Limited, and Esso Exploration and Production (Offshore East) Limited were now operating at normal levels. "This follows the discontinuation of the industrial action earlier embarked upon by our in-house workers union,"…