Nigeria’s economic activities expanded for the 14th consecutive month in January 2026, buoyed largely by sustained growth in the industrial sector, as the composite Purchasing Managers’ Index (PMI) settled firmly in expansion territory at 55.7 points, according to surveyed report published by the Central Bank of Nigeria (CBN).
Although the January PMI reading signalled continued expansion, it represented a moderation of 1.9 percent from the 57.6 points recorded in December 2025. Despite the slowdown, the index remained well above the 50-point threshold, reinforcing indications of improving business conditions across the economy.
Out of the 36 subsectors covered in the composite PMI survey, 31 recorded expansion in economic activities during the month, underscoring the broad-based nature of growth across key segments of the economy.