The need for manufacturing cannot be overestimated as the world is filled with loads of raw materials that cannot be utilized in their raw state. “A manufacturing business is any business that uses components, parts or raw materials to make a finished good. These finished goods can be sold directly to consumers or to other manufacturing businesses that use them for making a different product.”
Manufacturing plants often use an assembly line, which is a process where a product is put together in sequence from one work station to the next. By moving the product down an assembly line, the finished good can be put together quicker with less manual labor.
The Nigerian manufacturing sector is dominated by the production of cement and building materials, food and beverages, tobacco, chemicals and fertilizers, wood, and textiles. Only 3 subsectors (food & beverage, cement, and textile) account for 77% of manufacturing output generating the greatest value.
With a focus on the automotive and construction industry, VTE company limited, the Group’s manufacturing arm willl be setting up a vehicle assembling plant and a building materials plant. This is a testament to the Group’s belief and commitment to the Federal Government’s vision of Nigeria as the Giant of Africa. Arrangement is in top gear to ensure that the vehicle assembly plant becomes operational before the end of the 4th quarter 2022.