The Stanbic IBTC Purchasing Managers’ Index (PMI) for April 2026 registered at 52.4 points, an increase from the 51.9 points noted in March 2026, according to a statement released by the financial institution. This figure indicates that the Nigerian private sector continues to experience growth; however, this growth has been hampered by rising fuel costs attributed to the ongoing conflict in Iran. The higher fuel prices have created challenges for businesses, impacting their operational capabilities and overall expansion.
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