Inflation: Manufacturers Record 90.6 Rise In Cost Of Sales

Nigerias manufacturers are counting their losses to the drastic macroeconomic changes being executed by the Federal Government, FG.

A key element of the difficulties has shown up in cost of sales with leading manufacturers reporting 90.6 per cent surge in their just released 2024 financial results.

Cost of sales stands for the direct expenses incurred in the production of goods and services sold by a company, and it includes costs of raw materials, logistics, energy and other manufacturing expenses.

Analysts attribute the increase to the mounting inflationary pressure, foreign exchange volatility, and escalating production costs in the sector. But they have projected a better outcome for 2025 if the current stability in some key macroeconomic indicators is sustained.