Kenya Overtakes Nigeria in Private-Sector Growth Rankings, S&P Global Data Shows

According to S&P Global data, Kenya has overtaken Nigeria in private-sector growth rankings, with a PMI of 55.0 in November, surpassing Nigeria's 53.6. This shift raises questions about Nigeria's economic recovery and competitiveness.

Nigeria's growth remains steady but fragile, with challenges such as high costs, FX volatility, and logistics expenses hindering its potential. In contrast, Kenya and Uganda are benefiting from softer price conditions and improved supplier delivery times, leading to more stable growth in their private sectors.