Economy
Nigeria’s Manufacturing Index Contracts Sixth Month at 49.4 in October
By Adedapo Adesanya
The Central Bank of Nigeria (CBN) has disclosed that the manufacturing Purchasing Managers’ Index (PMI) in October stood at 49.4 index points, indicating a contraction in Nigeria’s manufacturing sector for the sixth time this year.
This was disclosed in the October PMI report released on Wednesday by the apex bank.
According to the report, six out of the 14 sub-sectors surveyed reported expansion (above 50 per cent threshold) in October.
It listed the sub-sectors that expanded as: electrical equipment; transportation equipment; printing and related support activities; chemical and pharmaceutical products; textile; apparel; leather and footwear and cement.
It said the remaining eight sub-sectors reported contractions in the following order: primary metal, petroleum and coal products, paper products, fabricated metal products, furniture and related products, nonmetallic mineral products, plastics and rubber, products and food, and beverage and tobacco products.
The production level index stood at 50.0 per cent in October for the sector indicates a halt in the contraction which commenced in May.
Out of the 14 sub-sectors surveyed, seven sub-sectors recorded expansion in production level, one sub-sector maintained current level, while six sub-sectors recorded declines in production in October.
The new orders index expanded at 51.2 points from contraction in the previous month.
Four sub-sectors reported expansion in new orders, four sub-sectors were stationary, while the remaining six recorded contractions in the month under review.
In terms of supplier delivery time, the report also stated that the manufacturing supplier delivery time index stood at 51.8 points in October.
This indicates that supplier delivery time is faster for the sixth consecutive month. Six of the 14 sub-sectors recorded improved suppliers’ delivery time, five sub-sectors reported stationery level, while three sub-sectors recorded slowing delivery time.
The employment level index for October stood at 46.0 points, indicating contraction in employment level for the seventh consecutive month.
Of the 14 sub-sectors, three sub-sectors recorded growth in employment level in the review month; two sub-sectors recorded stationary level of employment, while the remaining nine sub-sectors recorded lower employment levels in the review month.
In terms of raw material Inventories, the month stood at 46.2 index points, indicating that the manufacturing sector inventories contracted for the seventh time in October.
Two of the 14 sub-sectors recorded growth in inventories, while the remaining 12 sub-sectors recorded lower raw material inventories in the review month.
Economy
NGX Group’s 65th Annual General Meeting Holds April 29
By Aduragbemi Omiyale
The 65th Annual General Meeting (AGM) of the Nigerian Exchange (NGX) Group Plc has been fixed for Wednesday, April 29, 2026, at 11:00 am at its corporate head office on 2–4 Customs Street, Lagos.
Business Post gathered that the meeting would be streamed live on the company’s website and social media platforms to enable broader participation by shareholders and stakeholders unable to attend physically.
As part of a special business, shareholders will consider a proposed bonus issue of one new ordinary share for every three existing shares held as at the close of business on April 10, 2026, subject to regulatory approvals.
The proposal also includes an increase in the organisation’s share capital from N1,102,309,954 to N1,469,746,605, to accommodate the bonus shares and amendments to the Memorandum of Association to reflect the new capital structure.
Also at the gathering, shareholders will consider and, if deemed fit, approve the company’s audited financial statements for the year ended December 31, 2025, alongside the reports of the directors, auditors, board evaluation consultants, and audit committee.
The meeting will also deliberate on the declaration of a final dividend and the re-election of three non-executive directors retiring by rotation, who are Mr Umaru Kwairanga, Mrs Ojinika Olaghere, and Dr Okechukwu Itanyi.
Other ordinary business items on the agenda include authorising the board to fix the remuneration of the external auditors, determining the remuneration of managers, and electing members of the statutory audit committee.
Economy
BNB Price Reflects Changing Dynamics in the Digital Asset Market
Economy
NASD Unlisted Security Index Crosses 4,000-point Benchmark Again
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange achieved a milestone on Friday, April 24, 2026, after five securities on the platform helped with a 1.85 per cent growth.
Data showed that the NASD Unlisted Security Index (NSI) again crossed the 4,000-point benchmark yesterday.
The index chalked up 73.64 points during the trading day to close at 4,052.59 points compared with the preceding session’s 3,978.95 points, while the market capitalisation added N5.38 billion to finish at N2.424 trillion versus Thursday’s closing value of N2.380 trillion.
The price gainers were led by Okitipupa Plc, which grew by N25.00 to sell at N305.00 per share compared with the previous price of N280.00 per share. Central Securities Clearing System (CSCS) Plc gained N6.92 to close at N76.26 per unit versus N69.34 per unit, Afriland Properties Plc appreciated by N1.00 to N17.00 per share from N18.00 per share, FrieslandCampina Wamco Nigeria Plc improved by 55 Kobo to N99.55 per unit from N99.00 per unit, and Food Concepts Plc increased by 5 Kobo to N2.70 per share from N2.65 per share.
However, there was a price loser, MRS Oil, which dipped by N21.75 to N195.75 per unit from N217.50 per unit.
During the final session of the week, the value of securities jumped 75.2 per cent to N41.3 million from N23.6 million units, and the number of deals expanded by 62.9 per cent to 44 deals from 27 deals, while the volume of securities declined marginally by 0.9 per cent to 447,403 units from 451,522 units.
At the close of trades, Great Nigeria Insurance (GNI) Plc was the most traded stock by volume (year-to-date) with 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units valued at N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units traded for N1.2 billion.
GNI was also the most active stock by value (year-to-date) with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 59.6 million units transacted for N4.0 billion, and Okitipupa Plc with 27.8 million units exchanged for N1.9 billion.
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