Oil Markets Drop Below $100 on New Trump Ceasefire

Nigeria's private sector saw its Purchasing Managers' Index (PMI) dip to 52.5 points in July 2026, down from 53.4 points in June 2026.

This contraction occurred despite an overall growth in the business environment, with increased new orders and a softening of inflationary pressures.

Ahead of its PMI release, Stanbic IBTC Bank's Head of Equity Research West Africa, Mr Muyiwa Oni, noted that input costs rose at their slowest pace in five months, while panellists reported higher fuel and raw material prices.