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Tag: Private Sector

Finance

Nigeria’s private sector credit remains below economic peers — AfDB

Nigeria’s banking sector extends credit to the private sector equivalent to just 9.4 per cent of the country’s Gross Domestic Product, underscoring the limited role of financial institutions in supporting business expansion despite ongoing reforms aimed at deepening financial inclusion and stimulating economic growth. This was disclosed in the African Development Bank’s 2026 African Economic […]

featured Finance

Private sector rejects pressure to match proposed ₦100,000 minimum wage

Members of the organised private sector have warned against expecting private sector employers to automatically adopt a N100,000 minimum wage, despite moves by some state governments to raise workers’ salaries to that level. The business groups argued that while some large corporations and thriving sectors of the economy may have the capacity to pay wages […]

Business

Private sector confidence rises as agriculture drives April recovery

Nigeria’s private sector maintained its recovery momentum in April 2026 as the Nigerian Economic Summit Group reported that its Business Confidence Monitor Current Business Performance Index rose to 102.1 points. NESG made this known in its latest Business Confidence Monitor released on Tuesday. The latest data shows a marginal increase from 101.2 points recorded in […]

Business

Nigeria’s private sector rebounds strongly in February PMI survey

Nigeria’s private sector staged a strong recovery in February 2026, driven by renewed customer demand that boosted business activity and helped moderate inflationary pressures, according to the latest Purchasing Managers’ Index survey released by Stanbic IBTC Bank. The headline PMI climbed to 53.2 in February from 49.7 in January, crossing back above the 50.0 no-change […]

Finance

Private sector welcomes CBN’s modest interest rate cut

The Monetary Policy Committee of the Central Bank of Nigeria has reduced the benchmark interest rate to 26.5 per cent, of which, members of the Organised Private Sector have described the move as minimal but a positive signal for businesses and the broader economy. At the end of its 304th meeting in Abuja, the MPC […]

Conferences

Lagos urges private sector partnership to accelerate AI adoption

The Lagos State Government has said collaboration with the private sector is critical to accelerating artificial intelligence adoption in Nigeria, as stakeholders warn that innovation is advancing faster than governance and infrastructure. The position was reinforced at the “AI in Action Now” Conference 2026, held at the Lagos Oriental Hotel, where technology leaders, regulators and […]

Economy

Private sector credit rebounded to ₦75.8tn in December 2025

Private sector credit rose to N75.8 trillion in December 2025, up from N74.63 trillion in November, reflecting a modest rebound in lending activities at the end of the year. The data was released by the Central Bank of Nigeria as part of its latest monetary and credit statistics. While the increase points to improving lending […]

Private Sector in Nigeria
Economy

Private sector growth persists as PMI closes 2025 strong

The Stanbic IBTC Purchasing Managers’ Index report has shown that Nigeria’s private sector sustained its growth momentum at the end of 2025, supported by stronger customer demand that translated into higher new orders, output, and purchasing activity. According to the December 2025 report, firms recorded an increase in employment levels during the month, although the […]

Business

Private sector ends 2025 strong as PMI hits 53.5

Nigeria’s private sector closed 2025 on a firm note, with stronger customer demand sustaining growth in business activity and lifting the Stanbic IBTC Bank Nigeria Purchasing Managers’ Index to 53.5 in December 2025. This was disclosed in the latest PMI report released by the bank and compiled by S&P Global. The index is based on […]

Equity investors lose N1.5tn as bond yield rises
Business

Private sector growth hit 13-month high in December 2025

Nigeria’s private sector closed 2025 solidly in expansion territory as increased festive season demand pushed business activity to a 13-month high, according to the latest Stanbic IBTC Purchasing Managers’ Index. The headline PMI stood at 53.5 in December, slightly lower than the 53.6 recorded in November, but remained firmly above the 50.0 benchmark that separates […]

Equity investors lose N1.5tn as bond yield rises
Business

Nigeria’s private sector growth extends to 13th month

Nigeria’s private sector recorded another month of growth in November, supported by rising customer demand, new product launches, and easing inflationary pressures, according to the latest Stanbic IBTC Purchasing Managers’ Index report. The headline PMI for November stood at 53.6, which is above the 50.0 no-change threshold, signaling an improvement in business conditions for the […]

Maritime

Private sector welcomes N20bn insurance bond for containers

The Organised Private Sector, represented by the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture, has welcomed the introduction of a N20 billion collective insurance bond. This bond, backed by a consortium of insurers, is intended to replace the long-standing container deposit system in Nigeria’s maritime trade. The new scheme, designed to protect […]

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