Economy
Manufacturing PMI Contracts for Fifth Month to 46.9% in September
By Adedapo Adesanya
The Central Bank of Nigeria (CBN) has disclosed that the Manufacturing Purchasing Managers’ Index (PMI) contracted for the fifth consecutive month in September 2020 to stand at 46.9 index points.
According to the report by the apex bank, only four out of the 14 sub-sectors in the manufacturing sector surveyed saw expansion above the 50 per cent threshold in the ninth month of the year.
The apex bank noted that expansion was registered in the electrical equipment; transportation equipment; cement and non-metallic mineral products sub-sectors.
However, the 10 remaining sub-sectors reported contractions in the following order: petroleum & coal products; primary metal; furniture & related products; printing & related support activities; food, beverage & tobacco products; textile, apparel, leather & footwear; chemical & pharmaceutical products; fabricated metal products and plastics & rubber products; while the paper product sub-sector was stable.
In terms of production, the CBN reported that the production level index for the manufacturing sector stood at 47.3 points, indicating a contraction in September for the fifth consecutive month.
Of the 14 sub-sectors surveyed, five recorded an increased production level, one reported the same level of production, while eight recorded declines in production.
By new orders, it contracted in the month under review to 46.4 points, also contracting in September for the fifth consecutive month.
Six sub-sectors reported expansion in new orders, while the remaining eight recorded contraction in the month.
The manufacturing supplier delivery time index stood at 53.5 points in the month, indicating a faster supplier delivery time for the fifth time.
Six of the 14 subsectors recorded improved suppliers’ delivery time, five subsectors reported the same level, while three subsectors recorded slower delivery time
The employment level index stood at 44.1 points, indicating contraction in employment level for the sixth consecutive month.
Of the 14 sub-sectors, two recorded growth in employment, three recorded the same level of employment, while the remaining nine recorded lower employment level in the review month.
The manufacturing sector raw material inventories index also contracted for the sixth consecutive time in September to 43.0 points. Four of the 14 sub-sectors recorded growth in inventories, while the remaining 10 recorded lower raw material inventories.
For the non-manufacturing sector, PMI stood at 41.9 points in September 2020, indicating contraction in non-manufacturing PMI for the sixth consecutive month.
Out of the 17 sub-sectors surveyed, three subsectors reported growth in the following order: water supply, sewage & waste management; arts, entertainment and recreation and professional, scientific, and technical services.
On the other hand, the remaining 14 subsectors reported declines in the following order: management of companies; repair, maintenance/washing of motor vehicle; agriculture; finance & insurance; electricity, gas, steam & air conditioning supply; accommodation and food services; information & communication; health care and social assistance; real estate, rental and leasing; educational services; wholesale trade; transportation and warehousing; utilities and construction.
By Aduragbemi Omiyale
The pre-registration training and examination for capital market operators (CMOs) for the second quarter of 2026 has been postponed.
Business Post gathered that the new date for the exercise is now Monday, June 15, 2026.
This information was disclosed by the Securities and Exchange Commission (SEC) through a circular on Monday, June 8, 2026.
The Nigerian capital market regulator stated that this postponement has also resulted in the extension of the deadline for registration to Friday, June 12, 2026.
In the notice today, the SEC expressed its regret for the inconvenience this action may cause operators, who had prepared for the initial date of the training and examination.
“Further to the recent circular on Q2 2026 Pre-registration Training and Examination, the Securities and Exchange Commission (SEC) hereby informs all eligible applicants for the Q2 2026 Pre-registration Training and Examination that the commencement date has been postponed to Monday, June 15, 2026.
“Registration on the designated portal has also been extended to Friday, June 12, 2026. All other conditions contained in the circular remain unchanged.
“The commission regrets any inconvenience this postponement may cause and appreciates the understanding of all applicants,” the disclosure noted.
By Aduragbemi Omiyale
One of the leading healthcare firms in Nigeria, Fidson Healthcare Plc, has listed additional shares on the Nigerian Exchange (NGX) Limited.
The new stocks absorbed into the stock market were 600 million units, raising the total issued and fully paid-up shares of Fidson to 3,000,000,000 ordinary shares of 50 Kobo each from 2,400,000,000 ordinary shares of 50 Kobo each.
The fresh equities came from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share.
They were issued to existing investors on the basis of one new ordinary share for every existing four ordinary shares held as of the close of business on Wednesday, November 12, 2025.
Confirming the development, the regulator in a notice said, “Trading licence holders are hereby notified that an additional 600,000,000 ordinary shares of 50 Kobo each of Fidson Healthcare Plc were on Tuesday, June 2, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares arose from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share on the basis of one new ordinary share for every existing four ordinary shares held as at the close of business on Wednesday, November 12, 2025.
“With the listing of the additional 600,000,000 ordinary shares, the total issued and fully paid-up shares of Fidson Healthcare Plc have now increased from 2,400,000,000 to 3,000,000,000 ordinary shares of 50 Kobo each.”
By Modupe Gbadeyanka
This news will surely excite local contractors with verified claims of N100 million or less, as the federal government has approved their payments.
This approval for the disbursement was given by the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele.
This followed a verification and reconciliation exercise designed to ensure only validated claims qualify for payment.
The beneficiaries cover contractors across multiple ministries, departments and agencies. The release of the funds is expected to enable contractors to return to project sites, pay workers, settle suppliers and meet outstanding financial commitments.
In an announcement on Monday, the Federal Ministry of Finance also said this latest batch of payments would ease liquidity pressure on small businesses and accelerate economic activity nationwide.
It was noted that the payments for verified claims of N100 million below were strategically done to spread economic impact broadly rather than concentrate disbursements among a handful of large firms.
The payments form part of a broader push to clear inherited contractor obligations, with over N700 billion verified in recent months.
“For many beneficiaries, the release of funds represents more than a financial transaction. It provides the certainty needed to sustain operations, preserve jobs, complete ongoing projects, and contribute to economic recovery and growth,” the ministry said in a statement.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn