CBN says broad-based expansion across agriculture, industry and services signals steady growth momentum
The Central Bank of Nigeria (CBN) says domestic economic activity gained further traction in December 2025, with the country’s Composite Purchasing Managers’ Index (PMI) remaining firmly above the 50-point threshold that signals expansion.
According to the December 2025 PMI Survey released by the apex bank, the Composite PMI rose to 57.6 points, marking the strongest level of business activity recorded in nearly five years.
In a statement signed by the Acting Director of Corporate Communications, Hakama Sidi Ali, the CBN said the sustained improvement reflects continued expansion across key sectors that drive employment and output growth.
A breakdown of the data showed that agriculture led the expansion with a PMI reading of 58.5 points, followed by the industrial sector at 57.0 points. The services sector also remained in expansionary territory at 51.9 points, pointing to broad-based growth in business activities during the month.
The survey further revealed that 32 out of 36 subsectors tracked by the CBN recorded growth in critical indicators, including production output, new orders and employment levels.
According to the apex bank, the results point to a sustained recovery in domestic demand and strengthening productive capacity, particularly within the non-oil segment of the economy.
The CBN attributed the positive performance to the impact of ongoing macroeconomic stabilisation efforts, aimed at improving the business environment and boosting investor and consumer confidence.
The bank noted that these reforms continued to support job creation, enhance production efficiency and reinforce optimism about economic conditions in the final quarter of 2025.
“The December PMI reading reinforces expectations of a stable growth outlook as Nigeria transitions into the new year,” the statement said.
