• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Sunday, July 6, 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 Activity Declines To 49.8 Points As Inflationary Pressures Strengthen

by Leadership News
9 months ago
in Business
business
Share on WhatsAppShare on FacebookShare on XTelegram

Stanbic IBTC Purchasing Managers’ Index (PMI) report said that inflationary pressures continue to hit Nigerian businesses as activity declined to 49.8 points in September.

Advertisement

The headline PMI was little-changed in September, posting 49.8 following a reading of 49.9 in August. As such, the index pointed to a further fractional deterioration in business conditions, the third in as many months.

Readings above 50.0 signal an improvement in business conditions on the previous month, while readings below 50.0 show a deterioration.

The report said “inflationary pressures intensified in September, adding to the challenges faced by Nigerian companies as the third quarter drew to a close. Although new orders increased for a second month running, the rate of growth remained muted and insufficient to prevent a further reduction in business activity. Likewise, the rate of job creation was only marginal and eased to a three-month low.

“Companies continued to report challenging demand conditions, in large part due to the inflation environment. In fact, September saw an intensification of inflationary pressures, with both input costs and output prices increasing at the sharpest rates in six months.”

RELATED

African Manufacturers Urge Investment In Local Industries

African Manufacturers Urge Investment In Local Industries

11 hours ago
Regularise Property Titles For Sustainable Housing Security, LASG Urges Homeowners

Regularise Property Titles For Sustainable Housing Security, LASG Urges Homeowners

11 hours ago

It pointed out that “purchase prices rose rapidly amid currency weakness and higher costs for fuel, logistics, materials and transportation. Some firms made efforts to help their workers with higher living costs, but the rate of wage inflation eased to an 18-month low.

Higher costs were then passed through to customers, with close to 49 per cent of respondents raising selling prices in September.

“Although sharp price increases acted to limit customer demand, new orders rose for the second month running in September, and to a slightly greater extent than in August. The rate of expansion remained modest, however.

“Business activity continued to fall marginally as the tentative improvement in new orders was insufficient to support an expansion of output. Activity was down for the third month running. Output rose in agriculture and manufacturing, but fell in wholesale & retail and services.”

Speaking, head of Equity Research West Africa at Stanbic IBTC Bank, Muyiwa Oni said that “Nigeria’s PMI remained below the 50-point mark for the third consecutive month, settling at 49.8 points in September from 49.9 points in August. This points to a further fractional deterioration in business conditions, the third in as many months, largely due to challenging demand conditions amid the inflationary environment.

“Still, the pace of deterioration remained marginal as some firms were able to secure greater new business during the month. Output increased in agriculture and manufacturing, but fell in wholesale & retail and services.”

He noted that companies remained reluctant to hold inventories in September, cutting stocks of purchases for the second month running and to the largest extent since May 2020, saying that “inventories were reduced in line with falling output and muted customer demand. Elsewhere, input costs increased to their third steepest on record while output prices quickened to their fastest level in six months.”


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

BREAKING NEWS: Nigerians can now earn US Dollars from the comfort of their homes with Ultra-Premium domains, acquire them for as low as $1700 and profit as much as $25,000. Click here to learn how you can earn US Dollars consistently.


Tags: Stanbic IBTC
SendShareTweetShare
Previous Post

Group Mobilises Support To Upgrade Jabi Lake

Next Post

Used Cars Import Rises To N110.5bn

Leadership News

Leadership News

You May Like

African Manufacturers Urge Investment In Local Industries
Business

African Manufacturers Urge Investment In Local Industries

2025/07/06
Regularise Property Titles For Sustainable Housing Security, LASG Urges Homeowners
Business

Regularise Property Titles For Sustainable Housing Security, LASG Urges Homeowners

2025/07/06
Notore Chemical Industries Delists From NGX
Business

Notore Chemical Industries Delists From NGX

2025/07/06
Business

PIA: PWDs Demand Inclusion In Niger Delta Host Community Board

2025/07/06
Share Local Content Success Strategies With Us, African Leaders Urge Nigeria
Business

Share Local Content Success Strategies With Us, African Leaders Urge Nigeria

2025/07/06
Burger King Recommits To Environmental Sustainability, Expands Footprint In Ogun
Business

Burger King Recommits To Environmental Sustainability, Expands Footprint In Ogun

2025/07/06
Leadership Conference advertisement

LATEST

Nigerian Idol S10: Double Elimination As Lawrence, Mikki Exit Show

2027: Tinubu’s ‘Incompetence’ Behind My Renewed Push To Be President — Obi

‘How I’d Lead Nigeria As President’, Peter Obi Speaks On 2027 Plans

Ola Aina Signs New 3-year Deal With Nottingham Forest

I Never Worked For Abacha Or Any Gov’t – Peter Obi

JAMB Releases Results Of Mop-up UTME

WAFCON 2024: Super Falcons Cruise To Winning Start, Thrash Tunisia 3-0

Boko Haram Kills 9, Injures 4 Others In Borno

‘You Want To Rescue Your Stomach, Not Nigeria’, Wike Blasts Opposition Coalition Leaders

Okunbo Honoured At INC-America’s Convention

© 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.