• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Monday, August 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
9 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

Mixed Performance On Equities Expected This Week

Earnings Optimism Triggers N4.32trn Equities Gain In 5 Days

1 hour ago
Cadbury Nigeria Records N55bn Revenue In 2022

Cadbury Nigeria Records N14.54bn Pre-tax Profit In H1

1 hour 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

Mixed Performance On Equities Expected This Week
Business

Earnings Optimism Triggers N4.32trn Equities Gain In 5 Days

2025/08/04
Cadbury Nigeria Records N55bn Revenue In 2022
Business

Cadbury Nigeria Records N14.54bn Pre-tax Profit In H1

2025/08/04
MTN Allots Incentive Shares, As Trading Opens With N4bn Loss
Business

MTNN Posts N414.9bn Profit After Tax In H1

2025/08/04
ASSBIFI Link Forex Rise On Unpatriotism Of Nigerians
Business

Despite Optimism, Forex Inflow Declines By 20.9% In July

2025/08/04
JUST-IN: Inflation In Nigeria Rises Further To 21.91%
Business

Easing Inflation, Currency Stability Prompted IMF’s Nigeria Growth Upgrade – Analysts

2025/08/04
business
Business

Consumers To Access N100m Mortgage Loans In FCMB

2025/08/04
Leadership Conference advertisement

LATEST

Group Seeks Better Healthcare Services For PWDs In Kwara

Diaspora Group Greets Ohakim At Birthday

Nigeria Trains 360 Doctors To Combat Maternal Mortality

We’re Working On 1,000-km Rural Access Roads – Ekiti Agency

Foundation Honours Wike For Exemplary Leadership, Mentorship

Gov Inuwa Yahaya Mourns Ali Jijji

Labour Leaders Decry New Trade Union Regulatory Policy

OPA Condemns Alleged Plot To Destabilise ADC

Federal Gov’t To Transform Agric Sector For Economic Growth

Malaria: Oyo Distributes 5m Insecticide-treated Nets

© 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.