CBN PMI Reaches 56.4 in February, 15th Month of Growth

In February 2026, the Central Bank of Nigeria (CBN) reported that its Composite Purchasing Managers' Index (PMI) reached 56.4 points, indicating the 15th consecutive month of expansion in Nigeria's economic activity. The report highlighted broad-based growth across key sectors, including industry, services, and agriculture.

Specifically, 30 out of 36 subsectors surveyed recorded growth during this period. The industrial sector showed the strongest performance with a PMI of 56.8 points, driven by improvements in output, new orders, and employment levels.

The services sector also maintained expansion, posting a PMI of 55.3 points, marking its 13th consecutive month of growth. The agricultural sector continued its expansion streak with a PMI of 56.5 points, reflecting ongoing improvements in business activity and farm operations.

Overall, the data indicates that Nigeria's economic activity continued to strengthen in February, supported by increased production levels and inventory accumulation.