Manufacturing Index Plunges 10% as Cement Sector Contracts – NESG

Nigeria’s manufacturing activity fell by about 10% in September 2026, with the sector’s Current Business Performance Index dropping to 108.4 points from 120.4 in August, the Nigerian Economic Summit Group (NESG) reported. A contraction in cement and weaker or declining activity across several subsectors weighed on performance amid high costs, tight credit, energy shortages and supply difficulties. Overall business activity nevertheless rose to 117.8 points, supported particularly by trade, while agriculture also strengthened and services slowed but remained in expansion.