Nigeria’s Economic Activity Gains Momentum as PMI Climbs to 57.6 Points in December — CBN

Nigeria’s domestic economic activity recorded a strong upswing in December 2025, with the Composite Purchasing Managers’ Index (PMI) rising to 57.6 points, its highest level in about five years, according to the Central Bank of Nigeria (CBN).

The latest PMI reading, released by the apex bank, remains well above the 50-point benchmark that separates expansion from contraction, signaling sustained growth across the economy.

The CBN said the robust performance reflects continued expansion in key employment-generating sectors, underlining improving business conditions toward the end of the year.

Sectoral data from the December PMI Survey showed that agriculture maintained a solid performance at 58.5 points, industry followed closely at 57.0 points, while the services sector remained in expansionary territory at 51.9 points.

The broad-based sectoral growth points to increasing output and business activities across the economy.

Further details of the survey revealed that 32 out of the 36 subsectors assessed recorded expansion in major indicators, including production levels, new business orders, and employment.

According to the Bank, this development highlights a steady rebound in domestic demand and a strengthening of productive activities, particularly within the non-oil segment of the economy, which has remained a critical driver of growth.

The apex bank attributed the improved PMI performance to the positive impact of ongoing macroeconomic stabilisation measures.

These include reforms aimed at enhancing the operating environment, improving policy clarity, and restoring business confidence. The CBN noted that such measures have continued to support job creation, boost production efficiency, and sustain optimism among businesses, especially during the fourth quarter of 2025.

Analysts say the sustained expansion captured by the PMI suggests that firms are responding positively to policy interventions, with increased hiring and rising new orders reflecting confidence in near-term economic prospects.

The resilience across agriculture, industry, and services is also seen as a sign of growing diversification and reduced vulnerability to external shocks.

The December PMI reading reinforces expectations of a stable growth outlook as Nigeria enters the new year, with the CBN expressing optimism that the momentum could be sustained if current reforms are consolidated and macroeconomic stability maintained.

The report was signed by the Acting Director of Corporate Communications at the Central Bank of Nigeria, Mrs. Hakama Sidi Ali, and dated December 30, 2025.