Business

Nigeria’s private sector grew for a ninth consecutive month in October 2026, but the pace eased as fuel and other operating expenses increased, according to the latest Stanbic IBTC Bank Purchasing Managers’ Index. The survey’s headline reading fell to 55.7 from 56.4 in September. Both readings are above the 50-point threshold separating expansion from contraction,

Nigeria’s foreign-exchange market recorded $3.71 billion in spot and derivatives transactions in the week ended Friday, 30 October 2026, a 43.02 per cent increase from the preceding week. Reports published on Monday, 2 November, drew on the latest weekly market analysis attributed to FMDQ. BizWatch Nigeria reported that turnover rose from $2.60 billion in the

Bank lending to Nigeria’s manufacturing sector fell by approximately 34 per cent between December 2024 and August 2026, even as the industry completed a recapitalization exercise that raised ₦4.65 trillion. The contrast has prompted renewed questions over whether stronger bank balance sheets are translating into financing for productive businesses. Figures presented by the Nigerian Economic

The Nigerian Exchange (NGX) recorded a ₦2.01 trillion increase in equity market capitalisation in October 2026, closing the month at ₦165.11 trillion, compared with ₦163.10 trillion at the end of September. The 1.23 per cent increase was supported by gains in Dangote Cement and selected mid-cap stocks, although several sectors and a majority of the

Nigeria’s latest Treasury-bill auction attracted approximately ₦1.91 trillion in investor bids, but only ₦71.2 billion was accepted, according to market data reported following the October 28 auction. The auction was conducted by the Debt Management Office on behalf of the federal government, with the Central Bank of Nigeria involved in the government-securities and liquidity-management framework.

Africa Week UK 2026 is underway in London, bringing together business leaders, investors, diplomats, entrepreneurs and members of the African diaspora for a programme aimed at strengthening economic and cultural ties between Africa and the United Kingdom. Running under the theme “Africa Forward: Innovation, Investment, Influence,” the initiative is designed to move conversations about Africa’s