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Between December 2018 and December 2020, the aggregate monetary value of the manufacturing sector’s output rose from N12.45tn to N19.44tn.
The report also showed that out of the 13 subsectors that constitute the manufacturing sector, 12 recorded increase in economic performance between 2018 and 2020, while one subsector recorded a fall in productivity. The report showed that plastic and rubber products sub-sector recorded an increase of about N215bn from N389.82bn in 2018 to N605.75bn, while electrical and electronics, basic metals, motor vehicle and other manufacturing grew from N9bn, N282.3bn, N114.02bn and N456.82bn to N13.86bn, N421.13bn, N489.66bn and N644.49bn respectively.
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