Economic activity in Nigeria expanded in January 2026, with the Composite Purchasing Managers’ Index (PMI) at 55.7 points, indicating growth in aggregate economic performance for the 14th consecutive month, the Central Bank of Nigeria (CBN) said in its latest PMI report.
The CBN’s PMI survey covers industry, services and agriculture sectors, and a reading above 50 points signals expansion in business activity.
The CBN report shows that the industry sector PMI stood at 56.0 points, reflecting continued expansion in manufacturing and production activities.
The services sector PMI was 54.5 points, indicating growth in trade, transportation and other services for the twelfth consecutive month.
In the agriculture sector, the PMI reached 54.2 points, extending its expansion to the eighteenth consecutive month.
The report also showed that 31 out of 36 subsectors surveyed recorded growth in activity, pointing to widespread improvements across the economy.
The PMI is a key indicator of economic conditions, capturing output, new orders, employment, supplier deliveries and inventories across industries. A reading above the 50-point mark reflects expansion in underlying business conditions.
The sustained expansion in January 2026 suggests continued momentum in output and demand across major segments of Nigeria’s economy, according to the CBN data.
