• 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

Seasonal Demands Boost Business Activities In December, Post Solid Improvement

by Olushola Bello
5 months ago
in Business
business
Share on WhatsAppShare on FacebookShare on XTelegram

Increased demand from consumers for the year-end holidays boosted the productivity of the private sector of the Nigerian economy to 52.7 points during the final month of 2024.

Advertisement

This was stated in the December 2024 report of the Purchasing Managers’ Index (PMI) of the Stanbic IBTC Bank.

The headline PMI moved back above the 50.0 no-change mark for the first time in six months during December. At 52.7, the index was up from 49.6 in November and signalled a solid improvement in the health of the private sector that was the most pronounced since January 2024.

The report said overall business conditions improved as new orders increased for the second month running and renewed expansions were seen in output, employment and purchasing.

It noted that “new orders increased for the fourth time in the past five months, with the pace of expansion quickening to the fastest since May. Respondents noted improving client demand and rising customer numbers.

RELATED

Nigerian MSMEs Benefit From Access Bank, Mastercard, LCCI Partnership

Nigerian MSMEs Benefit From Access Bank, Mastercard, LCCI Partnership

13 hours ago
Group Rejects Proposed Amendments To CBN Act

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

16 hours ago

“Sustained growth of new orders led to a renewed expansion of business activity in December, thereby ending a five- month sequence of contraction. All four broad sectors signalled rising output at the end of 2024.

“Companies also responded to higher new orders by recording fresh rises in both employment and purchasing activity. Growth of input buying helped firms to accumulate stocks of purchases for the first time in five months.”

The report observed that “improving trends across the private sector were recorded in spite of ongoing strong inflationary pressures. Purchase prices were up amid currency weakness and higher costs for fuel and transportation. Transportation price pressures also contributed to an increase in staff costs.

“In turn, companies continued to increase their output prices at a rapid pace, with the rate of inflation quickening slightly from that seen in November.”

It added that “although strengthening from the series low seen in the previous survey period, business confidence was still the third-lowest on record. Some firms linked optimism to expected improvements in access to funding, helping them to invest in business expansions, while others were hopeful of an improvement in economic conditions in 2025, and a softening of inflationary pressures.”

Speaking, head of Equity Research West Africa at Stanbic IBTC Bank, Muyiwa Oni said, in line with the increase in economic activity usually associated with festive season in Nigeria, the private sector activity moved above the 50 points psychological threshold for the first time in six months, its most pronounced improvement since January 2024.

He stated that this improved private sector activity reflects renewed expansions in output, purchasing, and employment level, saying that new orders also increased for the second consecutive month, with the latest increase being the highest since May 2024, reflecting improvement in consumer demand.


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: Nigerian EconomyStanbic IBTC
SendShareTweetShare
Previous Post

Housewife Kills Husband In His Sleep

Next Post

NNPC To Obasanjo: Port Harcourt Refinery Operational

Olushola Bello

Olushola Bello

You May Like

Nigerian MSMEs Benefit From Access Bank, Mastercard, LCCI Partnership
Business

Nigerian MSMEs Benefit From Access Bank, Mastercard, LCCI Partnership

2025/06/04
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
Leadership Conference advertisement

LATEST

Foundation Empowers 18 Agripreneurs With N28.5m Grants

Osimhen Remains Al Hilal’s Main Target As Striker

Bakare Meets Tinubu, Pushes For ‘Nigeria That Works’

Aide Dismisses Gov Adeleke’s Alleged Plan To Dump PDP For APC

Bill Gates Set 20 Years To End Malaria In Africa

Tribunal Upholds Aiyedatiwa’s Victory As Ondo Gov

CBEX Scam: EFCC Declares 2 Nigerians Wanted

DSS Not Interested In Arresting Utomi, Anyone Over Shadow Gov’t

My Phone Line Cloned To Malign Prominent Nigerians, Says Akpoti-Uduaghan

A-BNB Global, John Bosco Institute Flag Off NYESAF Masonry Training

© 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.