Rising demand boosts Nigeria’s PMI to 53.5
Nigeria’s private sector saw continued growth as stronger customer demand pushed the Stanbic IBTC Bank Nigeria Purchasing Managers’ Index to 53.5 in December 2025. The latest PMI report, compiled by S&P Global, highlighted sustained improvement in operating conditions for the 13th consecutive month. The report noted increases in new orders, output, and purchasing activity, while employment rose only marginally. Business confidence also improved, with many firms planning expansion and new branches.
TLDR
- The PMI reading reached 53.5 in December 2025, nearly unchanged from November’s 53.6.
- Growth was driven by improved customer demand, leading to higher new orders and output.
- All four major sectors saw output rise, with agriculture leading; employment increased slightly at the slowest pace since June 2025.
- Inflation quickened but remained among the weakest in the past six years, with staff costs and selling prices rising.
- Business confidence improved in December, with nearly 59% of respondents expecting growth due to planned investments and expansion.
