Manufacturing Declines as Business Performance Index Grew in September
Dike Onwuamaeze Contraction in business activity in the cement sub-sector pushed the manufacturing sector to a sharp decline in September 2026 to 108.4 points from 120.4 points in the previous
The Business Confidence Monitor (BCM) reports that the manufacturing sector experienced a sharp decline in September 2026, with the Current Business Performance Index (CBPI) for the sector falling to 108.4 points, down from 120.4 points in the previous month. This downturn is attributed to contraction in the cement sub-sector and is further exacerbated by growth-inhibiting constraints such as energy shortages, inadequate supply of raw materials, high rental costs, credit squeeze, and infrastructure challenges faced by many players in the manufacturing sector.
Despite this decline, the overall business activity in Nigeria sustained expansionary momentum in September 2026, with the Current Business Performance Index (CBPI) jumping to 117.8 points from 112.7 points in August 2026, driven by expansion across various sectors, with trade recording the strongest performance.
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