Nigeria’s domestic economy recorded a notable improvement in December 2025, with business activity expanding at its fastest pace in nearly five years, according to the Central Bank of Nigeria (CBN).
The CBN’s December 2025 Purchasing Managers’ Index (PMI) Survey showed that the Composite PMI stood at 57.6 points, remaining well above the 50-point threshold that separates expansion from contraction. The reading represents the strongest momentum in domestic economic activity since early 2021.
The sustained expansion reflects broad-based growth across key employment-generating sectors. Sectoral PMI data indicated that agriculture remained robust at 58.5 points, industry recorded 57.0 points, while the services sector stayed in expansionary territory at 51.9 points, underscoring continued growth in output and business activity during the month.
According to the survey, 32 out of 36 monitored subsectors reported expansion in critical indicators, including production levels, new business orders, and employment. The CBN noted that this performance highlights a steady recovery in domestic demand and strengthening productive activity, particularly within the non-oil segment of the economy.
The apex bank attributed the improved PMI readings to the positive effects of ongoing macroeconomic stabilisation measures aimed at enhancing the operating environment and restoring business confidence. These reforms, the CBN said, have continued to support job creation, improve production efficiency, and reinforce optimism across the economy in the fourth quarter of 2025.
Analysts at Cowry Research also noted that the December PMI data point to sustained economic expansion as Nigeria enters 2026. They highlighted that broad-based growth across agriculture, industry, and services—combined with rising production, new orders, and employment—signals resilient domestic demand and strengthening productive capacity.
With macroeconomic reforms gaining traction, Cowry Research expects business confidence to remain supportive of job creation and output growth, reinforcing expectations of a stable near-term growth trajectory for the Nigerian economy.
Ifeoluwa Okonkwo ✔
Ifeoluwa Okonkwo is a dedicated News Content Editor at Naija247news, bringing over five years of experience in news writing and editorial work. A graduate of the University of Abia State, Ifeoluwa specializes in curating and refining impactful news stories that resonate with readers. Her expertise lies in delivering accurate, timely, and engaging content across diverse topics, contributing to the platform’s reputation for excellence in journalism. Through her leadership, she ensures high editorial standards and an unwavering commitment to journalistic integrity.
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