Sunday, October 19, 2025
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Business

Troyka Holdings Chair, Biodun Shobanjo, Inducted into Loeries Hall of Fame

Nigeria’s foremost advertising leader and Chairman of Troyka Holdings,...

Zenith Bank, NEM, Seplat, AIICO, Dangote Cement, First HoldCo Recognised as Nigeria’s High-Performing Companies

L-R:    Michael Ani, Manager, Investor Relations, Dangote Cement; Oluseyi...

Finance Min, Wale Edun, to Keynote FiBOP Annual Confab Oct 18

The Honourable Minister of Finance and Coordinating Minister of...

Niteon Unveils First African Manufacturers Bank to Unlock $200bn Digital Export Market

Niteon, one of Nigeria's largest digital export marketplaces, has...

FG Boosts MSME Financing with NCGC Initiative

In a bid to boost economic growth and development,...

ICT

Konga Partners Verve to Delight Customers with Free Shopping Vouchers

  Konga, Nigeria’s leading composite e-commerce platform has partnered with...

NCC Spotlights Renewable Energy on World Consumer Rights Day

  The Nigerian Communications Commission (NCC) has concluded arrangements to...

Governors, NCC Set for Broadband Awareness Forum Oct 20

All Nigeria State Governors are set to discuss how...

VerveLife 5.0 Gears Up for Nairobi, Lagos Events

Following a successful series of Verve Life 5.0 satellite...

Telecom Infrastructure Critical to Successful 2023 Elections – Danbatta

The Executive Vice Chairman of the Nigerian Communications Commission,...

Capital Market

SEC DG: Commission Considering Gradual Implementation of ISSB Standards

The Director General of the Securities and Exchange Commission...

ISSB-Aligned Disclosures Will Lower Capital Costs, Attract Global Investors — SEC

The Securities and Exchange Commission (SEC) has unveiled plans...

SEC DG to Cadets:  Invest Early, Long Term to Create Wealth

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SEC DG: Accountability, Transparency will Boost Investor Confidence in Capital Market

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SEC DG: Digital Assets Represent $10tn Opportunity by 2030

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Insurance

13-year-old Rhema-Love Abraham Emerges Winner of 2025 Heirs Insurance Essay Championship

L:R- Funmi Olotu, National Coordinator, National Social Safety-Nets Coordinating...

Leadway Assurance: Insurance Company of the Year at 2025 BAFI Awards

L-R: Managing Director, Leadway Assurance, Gboyega Lesi; Publisher, BuisnessDay...

Heirs Insurance Group Announces Inaugural Travel Festival: A Call for Inclusive Travel Ecosystem for Africans

Heirs Insurance Group (HIG), Nigeria’s fastest-growing insurance group, has...

Sovereign Trust Insurance Celebrates 2025 Customer Service Week

Sovereign Trust Insurance Plc has been actively involved in...

Leadway: 55 Years of Innovation, Expanding Financial Access, Inclusion Across West Africa

Leadway, one of Nigeria’s foremost non-banking financial services and...

Business

Troyka Holdings Chair, Biodun Shobanjo, Inducted into Loeries Hall of Fame

Nigeria’s foremost advertising leader and Chairman of Troyka Holdings,...

Zenith Bank, NEM, Seplat, AIICO, Dangote Cement, First HoldCo Recognised as Nigeria’s High-Performing Companies

L-R:    Michael Ani, Manager, Investor Relations, Dangote Cement; Oluseyi...

Finance Min, Wale Edun, to Keynote FiBOP Annual Confab Oct 18

The Honourable Minister of Finance and Coordinating Minister of...

Niteon Unveils First African Manufacturers Bank to Unlock $200bn Digital Export Market

Niteon, one of Nigeria's largest digital export marketplaces, has...

FG Boosts MSME Financing with NCGC Initiative

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ICT

Konga Partners Verve to Delight Customers with Free Shopping Vouchers

  Konga, Nigeria’s leading composite e-commerce platform has partnered with...

NCC Spotlights Renewable Energy on World Consumer Rights Day

  The Nigerian Communications Commission (NCC) has concluded arrangements to...

Governors, NCC Set for Broadband Awareness Forum Oct 20

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VerveLife 5.0 Gears Up for Nairobi, Lagos Events

Following a successful series of Verve Life 5.0 satellite...

Telecom Infrastructure Critical to Successful 2023 Elections – Danbatta

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Capital Market

SEC DG: Commission Considering Gradual Implementation of ISSB Standards

The Director General of the Securities and Exchange Commission...

ISSB-Aligned Disclosures Will Lower Capital Costs, Attract Global Investors — SEC

The Securities and Exchange Commission (SEC) has unveiled plans...

SEC DG to Cadets:  Invest Early, Long Term to Create Wealth

Graduating Cadets of the Nigerian Defence Academy (NDA) have...

SEC DG: Accountability, Transparency will Boost Investor Confidence in Capital Market

The Director General of the Securities and Exchange Commission...

SEC DG: Digital Assets Represent $10tn Opportunity by 2030

The Director General of the Securities and Exchange Commission...

Insurance

13-year-old Rhema-Love Abraham Emerges Winner of 2025 Heirs Insurance Essay Championship

L:R- Funmi Olotu, National Coordinator, National Social Safety-Nets Coordinating...

Leadway Assurance: Insurance Company of the Year at 2025 BAFI Awards

L-R: Managing Director, Leadway Assurance, Gboyega Lesi; Publisher, BuisnessDay...

Heirs Insurance Group Announces Inaugural Travel Festival: A Call for Inclusive Travel Ecosystem for Africans

Heirs Insurance Group (HIG), Nigeria’s fastest-growing insurance group, has...

Sovereign Trust Insurance Celebrates 2025 Customer Service Week

Sovereign Trust Insurance Plc has been actively involved in...

Leadway: 55 Years of Innovation, Expanding Financial Access, Inclusion Across West Africa

Leadway, one of Nigeria’s foremost non-banking financial services and...

Stanbic IBTC Bank: Nigeria PMI Dips to 4-Month Low at Start of 2022

The opening month of 2022 revealed a solid expansion in Nigeria’s private sector. Output continued to rise at a robust pace thanks to larger workforces as well as supportive domestic and international demand conditions.

However, cash shortages weighed on new orders, which rose at the softest rate for a year-and-a-half. Nevertheless, firms remained committed to raising output and stockpiled inputs accordingly, while sentiment improved to an 11-month high. Cost pressures remained sharp in January, but purchase price inflation eased notably from December’s previous peak.

The headline figure derived from the survey is the Purchasing Managers’ Index (PMI). Stanbic IBTC Bank noted that readings above 50.0 signal an improvement in business conditions on the previous month, while readings below 50.0 show a deterioration. At 53.7 in January, down from 56.4 in December, the latest expansion pointed to a softer, yet solid, improvement in business conditions.

Expansions have now been seen in each of the last 19 months, with the latest uptick the softest since September. Central to the moderation was a notable slowdown in new order growth. Total new business rose at the softest pace in 18 months with panel comments mentioning that cash shortages and high prices weighed on new order growth.

With new order growth easing in January, firms raised their output levels at a softer pace. The rate of growth was still robust, however, and above the long-run series average. Sub-sector data revealed expansions across the board, although agriculture recorded by far the strongest increase. Manufacturing, wholesale & retail and services followed, respectively. Sentiment improved to an 11-month high during the month amid plans to expand operations.

As a result, firms raised their headcounts marginally which contributed to a sharp reduction in backlogs. Lead times continued to improve in January, but to the weakest extent since April 2020. The resurgence of COVID-19 cases and tighter restrictions in international markets were often mentioned as factors that weighed on vendor performance.

Meanwhile, a sustained period of output and new order growth encouraged advance ordering strategies. There was also an indication that firms added to stockpiles to protect against future price hikes. Both purchasing activity and input inventories rose at robust, albeit softer rates.

Rising wage and raw material prices led to another increase in overall input costs. Unfavorable exchange rate movements also drove up expenses. Consequently, firms increased selling charges, but the rate of increase moderated notably.

 

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Topics

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Pantami Tasks Danbatta, NCC on Digital Economy

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Consolidated Hallmark Insurance Plc

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NAICOM Chief, Thomas, Earns Award from College of Insurance Supervisors

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