The Central Bank of Nigeria published its December 2025 Purchasing Managers’ Index (PMI), showing the composite PMI rose to 57.6 from 56.4 in November, signalling expansion in aggregate economic activity for the thirteenth consecutive month and the strongest expansion signal recorded in 2025. Sector readings also remained in expansion: the industry PMI stood at 57.0, described as the highest expansionary trajectory since March 2020, with 14 of 17 industrial subsectors reporting growth; the services PMI was 56.4, marking an eleventh consecutive month of expansion, with 13 of 14 subsectors growing and one stationary; and the agriculture PMI printed at 58.5, extending expansion to a seventeenth consecutive month, with all five subsectors reporting growth. Across the 36 subsectors covered, 32 expanded, led by Transportation Equipment, while three contracted, with Paper Products recording the highest decline; Professional, Scientific, and Technical Services was unchanged. Within the composite PMI components, Output (60.0), New Orders (58.7), Employment (54.2), and Stock of Raw Materials (54.5) all expanded, while the Suppliers’ Delivery Time Index rose to 58.2, indicating improved delivery efficiency; input price indices were higher than corresponding output price indices for the composite and each major sector.
Central Bank of Nigeria 2025-12-30
Central Bank of Nigeria reports December 2025 composite PMI at 57.6 with broad-based expansion across sectors
The Central Bank of Nigeria's December 2025 Purchasing Managers’ Index (PMI) rose to 57.6 from 56.4 in November, indicating the strongest economic expansion signal of the year. Sector readings showed continued growth, with the industry PMI at 57.0, services at 56.4, and agriculture at 58.5. Across 36 subsectors, 32 expanded, led by Transportation Equipment, while three contracted, with Paper Products experiencing the highest decline.