Nigeria's Manufacturing Sector Declines Amid Business Growth
In September 2026, Nigeria's manufacturing sector faced a sharp decline, with the Business Performance Index (BPI) falling to 108.4 points from 120.4 points in August 2026. This decline was attributed to a contraction in the cement sub-sector.
The Business Confidence Monitor (BCM), published by the Nigerian Economic Summit Group (NESG), reported that while the overall business activity in Nigeria improved, with the Current Business Performance Index (CBPI) rising to 117.8 points from 112.7 points in August, the manufacturing sector struggled. The report indicated that several subsectors, including Chemical & Pharmaceutical Products and Cement, experienced contractions.
Despite this, sectors like Food, Beverage & Tobacco, and Textile remained in expansion territory. The report also highlighted challenges faced by manufacturers, such as energy shortages and high rental costs, which hindered growth and discouraged new investments.
Conversely, the agriculture sector saw rapid expansion, with its CBPI increasing to 117.7 points.
Plus234Feed summary based on reporting from This Day. Read the original report below.
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