In a promising start to 2024, the Nigerian private sector witnessed a robust recovery, as indicated by the latest data from the Stanbic IBTC Purchasing Managers’ Index™ (PMI®). The PMI figures for January revealed a notable acceleration in both output…
Stanbic IBTC Bank Nigeria PMI: Output returns to growth, but cost pressures limit demand
Strong cost pressures meant that firms operating in the Nigerian private sector remained under pressure in September. Although new order growth quickened, helping to support a renewed increase in business activity, rates of expansion in each were only modest. Input…
Stanbic IBTC Bank Nigeria PMI®: Inflationary pressures mount following fuel subsidy removal
Stanbic IBTC Bank Nigeria PMI® has reported that the removal of the fuel subsidy in Nigeria caused a sharp strengthening of price pressures in June. The headline PMI remained above the 50.0 no-change mark in June, although dipping slightly to…
Stanbic IBTC Bank Nigeria PMI: Recovery from cash crisis continues in May
Latest PMI data indicates that the Nigerian private sector continued to recover from the cash crisis in May as access to money improved and business conditions returned to normality. Output and new orders expanded for the second month running, with…
Stanbic IBTC Bank Nigeria PMI dips to 17-month low in June
The Nigerian private sector remained in growth territory at the end of the second quarter, although recent challenges around cash shortages led to weaker new order growth and a renewed decline in output. As a result, business conditions improved at…
Stanbic IBTC Bank Nigeria PMI: New order growth quickens to 17-month high in June
June data revealed a positive end to the first half of 2021 with a solid expansion recorded in the Nigerian private sector. Greater client demand in both domestic and international markets led to a sharp and accelerated rise in new…