Mkpoikana Udoma
Port Harcourt — Nigeria’s economic activity accelerated sharply in December 2025, with the Purchasing Managers’ Index, PMI, rising to 57.6 points, the strongest expansion signal recorded this year, according to data released by the Central Bank of Nigeria, CBN.
PMI is a monthly economic indicator that measures the health and direction of economic activity in key sectors of the economy including manufacturing (industry), services, and agriculture, based on surveys of purchasing managers.
The latest PMI reading indicates that the economy expanded for the thirteenth consecutive month, with 32 out of 36 subsectors reporting growth.
The CBN described the outcome as reflecting a “stronger, robust and widespread expansion in aggregate economic activity.”
The industry sector emerged as a major driver, with its PMI climbing to 57.0 points, the highest expansionary trajectory since March 2020.
The CBN noted that “14 of the 17 industrial subsectors surveyed recorded growth,” underscoring the depth of the recovery in manufacturing and related activities.
Growth also remained solid in the services sector, where the PMI stood at 56.4 points, marking the eleventh consecutive month of expansion.
“Thirteen out of the 14 services subsectors surveyed recorded growth in business activity,” the CBN said, highlighting the broad-based nature of the sector’s performance.
The agriculture sector posted the strongest momentum, with a PMI of 58.5 points, extending its expansion streak to seventeen consecutive months.
According to the report, “all five agricultural subsectors recorded growth in December 2025.”
However, the CBN flagged persistent cost pressures, noting that input price indices for the composite PMI and all major sectors were higher than their corresponding output price indices, suggesting continued margin pressure for businesses despite rising activity.
Overall, the December PMI data point to a resilient and broadening economic expansion as Nigeria closes 2025, even as inflationary and cost challenges remain in focus for policymakers and investors.
