The Central Bank of Nigeria released its December 2025 Purchasing Managers’ Index (PMI) survey, with the composite PMI rising to 57.6 from 56.4 in November, signalling expansion in aggregate economic activity for a thirteenth consecutive month and the strongest expansion reading recorded in 2025. Across the 36 subsectors covered, 32 reported expansion in December. Sector PMIs also remained in expansionary territory, with Industry at 57.0, Services at 56.4 and Agriculture at 58.5. Within industry, 14 of 17 subsectors reported growth, while services recorded growth in 13 of 14 subsectors and one remained unchanged; all five agriculture subsectors expanded. Key composite components expanded, including Output (60.0), New Orders (58.7), Employment (54.2) and Stock of Raw Materials (54.5), while Suppliers’ Delivery Time stood at 58.2. The report also noted that input price indices for the composite and each subsector were higher than the corresponding output price indices; Transportation Equipment recorded the strongest subsector growth, while Paper Products posted the largest decline among three subsectors in contraction.
Central Bank of Nigeria 2025-12-30
Central Bank of Nigeria publishes December 2025 PMI with composite index rising to 57.6 and industry at highest level since March 2020
The Central Bank of Nigeria's December 2025 PMI survey shows a rise in the composite PMI to 57.6 from 56.4 in November, indicating the strongest economic expansion of the year. Of the 36 subsectors, 32 reported growth, with key components such as Output, New Orders, and Employment also expanding. Input price indices exceeded output price indices across sectors, with Transportation Equipment showing the highest growth and Paper Products the largest decline.