Nigeria's Economy Expands for 14th Consecutive Month, PMI Report Shows Broad-Based Growth

According to the latest Purchasing Managers' Index (PMI) report released by the Central Bank of Nigeria (CBN), Nigeria's economy has expanded for the 14th consecutive month. The report highlights a broad-based improvement in business conditions, with record expansions across sectors and subsectors of the Nigerian economy.

The Composite PMI stood at 55.7 points in January 2026, marking the 14th consecutive month of expansion. The industrial sector recorded a PMI of 56.0 points, with 14 out of 17 subsectors showing growth.

The service sector also continued its growth streak with a PMI of 54.5 points. The agriculture sector recorded a PMI of 54.2 points, marking the 18th straight month of expansion.

The report indicates sustained demand conditions, improved operating environments, and optimism surrounding the near-term economic performance.