Nigeria’s PMI Rises to 57.6 Points, Hits Five-Year High — CBN

By Oluwakemi Kindness

The Central Bank of Nigeria (CBN) says the country’s business activity expanded to its strongest level in about five years in December, with the Composite Purchasing Managers’ Index (PMI) rising to 57.6 points.

In a statement issued on Tuesday night by the Acting Director of Corporate Communications, Hakama Sidi-Ali, the apex bank said the index remained well above the 50-point benchmark that separates expansion from contraction.

“The December 2025 PMI Survey puts the Composite Index at 57.6 index points, representing the strongest activity momentum recorded in about five years,” the CBN said.

The bank attributed the improvement to sustained growth across key sectors of the economy, particularly agriculture, industry and services, which are major drivers of employment.

According to the report, the agricultural sector remained robust at 58.5 points, while the industrial sector recorded 57.0 points.

The services sector also stayed in expansionary territory at 51.9 points, reflecting broad-based growth in output and business activities.

The survey further showed that 32 out of the 36 subsectors tracked recorded expansion in critical indicators such as production levels, new business orders and employment.

The CBN said the performance signals a steady recovery in domestic demand and strengthening productive activities, especially within the non-oil economy.

It attributed the positive trend to the impact of ongoing macroeconomic stabilisation measures aimed at improving the operating environment and boosting business confidence.

“These reforms continued to support job creation, improve production efficiency and strengthen optimism about economic prospects in the fourth quarter of 2025,” the bank said.

According to the CBN, the December PMI reading reinforces expectations of a stable growth outlook as Nigeria moves into the new year.