Report: Manufacturing Output Declines as Higher Fuel Costs Slow Growth
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Dike Onwuamaeze
The output of the manufacturing sector decreased as steep intensification of inflationary pressures that were propelled by higher fuel costs slowed growth in the economic activity of the Nigerian private sector at the end of the first quarter of 2026.
This is according to the Purchasing Managers’ Index (PMI) report of the Stanbic IBTC, which stated that although business activity in Nigeria’s private sector continued to rise in March, the rate of expansion
The output of the manufacturing sector decreased as steep intensification of inflationary pressures that were propelled by higher fuel costs slowed growth in the economic activity of the Nigerian private sector at the end of the first quarter of 2026.
This is according to the Purchasing Managers’ Index (PMI) report of the Stanbic IBTC, which stated that although business activity in Nigeria’s private sector continued to rise in March, the rate of expansion
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