• Friday, April 12, 2024
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Nigerian manufacturers cut 4,451 jobs in one year

Nigerian manufacturers cut 4,451 jobs in one year

Nigerian manufacturers cut a total of 4,451 jobs in 2021, the Manufacturers Association of Nigeria (MAN) said in a new report on Thursday.

MAN, in its half-yearly review of the economy, said 11,949 job losses were recorded in the manufacturing sector in 2020.

It said the total historical cumulative direct jobs in the sector was estimated at 1,671,441 by the end of 2021, based on surveys conducted since 2013.

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According to the report, a total of 16,110 direct jobs were created in 2021 as against 8,692 jobs recorded in 2020.

“The net job created in the sector in 2021 stood at 11,659 while net job losses in 2020 was 3,257. The trend thus shows that manufacturing job is also rebounding following the gradual return of economic activities in the sector after a year onslaught brought by COVID-19 pandemic,” MAN said.