• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Wednesday, June 4, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Business Activities Fall To 19-month Low On Weak Naira, High Input Cost

by Kingsley Okoh
7 months ago
in Business
ease of doing business
Share on WhatsAppShare on FacebookShare on XTelegram

Business activities in Nigeria are at their lowest in 19 months, fuelled by intense cost pressure and a weak naira, Purchasing Managers Index (PMI) for October has revealed.

Advertisement

The most recent monthly PMI by Stanbic IBTC Bank, released on Friday, indicated that the headline index decreased to 46.9 in October from 49.8 in September, marking the lowest level since March 2023.
The PMI reading above 50.0 signals an improvement in business conditions, while those below show deterioration.

The report disclosed that the decline is been fueled primarily by the third-highest rise in overall input costs.

“This surge reflects a weak naira, high transportation fees, and rising fuel prices that have severely squeezed businesses’ purchasing power. As a result, Nigerian firms have been forced to raise their selling prices at one of the fastest rates in history, passing rising costs on to consumers and worsening inflationary pressures,” the report said.

The rapid rise in prices led to a marked drop in new orders, with businesses facing the sharpest contraction in demand since March 2023.

RELATED

Group Rejects Proposed Amendments To CBN Act

Recapitalisation: 3m Job Losses Looms As 1,500 BDCs Fail Deadline

33 minutes ago
With $4bn Market Size, Nigeria’s Islamic Finance Industry To Surge In H2 – Fitch

With $4bn Market Size, Nigeria’s Islamic Finance Industry To Surge In H2 – Fitch

36 minutes ago

Additionally, many firms scaled back purchasing activity, and stocks of inputs dropped for the third month in a row, further stressing supply chains.

Despite the challenges, staffing levels rose slightly in October, marking a sixth consecutive month of modest employment growth.

“Some companies have resorted to hiring short-term staff to keep up with production schedules, while others have trimmed their workforces to control costs,” it said.


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel



Tags: Business Activity
SendShareTweetShare
Previous Post

I Love President Bola Ahmed Tinubu

Next Post

Informal Sector Employs 76.7% Of Nigeria’s Workforce – Report

Kingsley Okoh

Kingsley Okoh

You May Like

Group Rejects Proposed Amendments To CBN Act
Business

Recapitalisation: 3m Job Losses Looms As 1,500 BDCs Fail Deadline

2025/06/04
With $4bn Market Size, Nigeria’s Islamic Finance Industry To Surge In H2 – Fitch
Business

With $4bn Market Size, Nigeria’s Islamic Finance Industry To Surge In H2 – Fitch

2025/06/04
Zacch Adedeji: The Reformist FIRS Boss’ TaxPro-Max
Business

FIRS Entering New Era Of Excellence, Trust – Adedeji

2025/06/04
Customs Intercepts Bullet Proof Vests, Tokunbo Vehicles, Others Worth N1.2bn
Business

Customs Intercepts Bullet Proof Vests, Tokunbo Vehicles, Others Worth N1.2bn

2025/06/04
MFBs’ Customers Safe With NAMBUIT – NDIC
Business

NDIC Calls For Inputs To IADI Core Principles For Effective Deposit Insurance

2025/06/04
NCC Deploys 84 IT Projects To Support Persons with Disabilities
Business

N250bn Debt Dispute: NCC Shifts USSD Billing To Customers’ Airtime

2025/06/04
Leadership Conference advertisement

LATEST

Niger-South Stakeholders Donate N3m To Mokwa Flood Victims 

Health Competition: Students Champion Campaign Against Malaria

Residents Demand Inclusive Access To Abia Medical City

Recapitalisation: 3m Job Losses Looms As 1,500 BDCs Fail Deadline

With $4bn Market Size, Nigeria’s Islamic Finance Industry To Surge In H2 – Fitch

FIRS Entering New Era Of Excellence, Trust – Adedeji

Customs Intercepts Bullet Proof Vests, Tokunbo Vehicles, Others Worth N1.2bn

NDIC Calls For Inputs To IADI Core Principles For Effective Deposit Insurance

N250bn Debt Dispute: NCC Shifts USSD Billing To Customers’ Airtime

Mandilas Highlights Economic Milestones At 75th Anniversary

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.