Nigerian manufacturers are clawing back on their expansion plans due to a cash crunch.
This is based on the capital expenditure margin data from the first half of 2024 (H1 2024), analysed by BusinessDay.
According to data tracked using the cash flow financial statements of manufacturers listed on the Nigerian Exchange (NGX), capital expenditure margins declined 2 percentage points year over year, from 10 percent as of H1 2023 to 8 percent as of H1 2024.
Capital expenditure margin (capex margin) is a metric which measures how much a com
