CBN: Nigeria’s Economic Activity Hits Five-Year High as PMI Rises to 57.6

Nigeria’s domestic economic activity strengthened further in December 2025, with the Composite Purchasing Managers’ Index rising to 57.6 points, the highest level recorded in about five years, according to the Central Bank of Nigeria.

The apex bank disclosed this in its December 2025 PMI report released on Tuesday, noting that the index remained well above the 50-point threshold that separates economic expansion from contraction, signalling sustained growth momentum across key sectors of the economy.

The report showed that agriculture remained the strongest-performing sector with a PMI reading of 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 during the period under review.

According to the CBN, 32 of the 36 subsectors monitored recorded expansion in major indicators such as production levels, new business orders and employment, highlighting a steady rebound in domestic demand and improving productivity, particularly within the non-oil economy.

The bank attributed the improved performance to the impact of ongoing macroeconomic stabilisation measures aimed at enhancing the operating environment for businesses and boosting investor confidence.

It added that the reforms had supported job creation, improved production efficiency and strengthened overall optimism about economic prospects in the fourth quarter of 2025.

The CBN said the December PMI outcome reinforces expectations of a stable growth outlook as the country transitions into the new year.

Economic Confidential reports that the PMI survey is a key indicator used to measure the health of the economy, with readings above 50 points indicating expansion, while figures below 50 suggest contraction.