Manufacturing index plunges 10% as cement sector contracts – NESG

Nigeria's manufacturing business activity plunged by about 10 per cent in September 2026, as a contraction in the cement subsector and weakening performance across several industries dragged down the sector's business index, according to the Nigerian Economic Summit Group (NESG). The group's Business Confidence Monitor showed that the manufacturing Current Business Performance Index fell to 108.4 points in September from 120.4 points in August, amid persistent cost pressures, tight credit conditions and operational challenges. Despite the manufacturing setback, overall business activity maintained its expansionary momentum, with the composite CBPI rising to 117.8 points from 112.7 points in August and 107.9 points in September 2025. The NESG reported expansion across all major sectors, with trade delivering the strongest performance, as its index rose sharply to 128.5 points from 112.0 points.

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