Recent trend
Composite PMI kept rising into year-end
December 2025 was the strongest reading in about five years
Economy · Business Activity·Central Bank of Nigeria PMI data
Nigeria Purchasing
Managers' Index
December 2025
Nigeria's PMI rose to 57.6 in December 2025, the strongest reading in about five years. This page shows what changed, which sectors led the expansion, and what the official CBN survey means in plain English.
Latest release
57.6
The December 30, 2025 CBN release said economic activity strengthened further in December, with agriculture at 58.5, industry at 57.0, services at 51.9, and 32 of 36 subsectors in expansion.
November 2025
56.4
Distance from 50
+7.6 pts
Composite PMI
57.6
December 2025 · +1.2 points vs November
Above expansion line
7.6 pts
Any reading above 50 means business activity is expanding.
Subsectors expanding
32 of 36
89% of tracked subsectors were in expansion in December.
Strongest sector
Agriculture 58.5
Industry was 57.0 and services 51.9.
Sector split
Agriculture led the December reading
Services stayed above the expansion line in December, but it was much weaker than agriculture and industry. That matters because it shows the headline number was broad-based, but not evenly strong across every part of the economy.
Breadth
Expansion was broad, not just isolated
The CBN said 32 of the 36 subsectors it tracks were in expansion in December 2025. That is why the release reads as a genuine breadth story, not just a one-sector bounce.
December points to broad business expansion
A PMI of 57.6 is comfortably above the 50-point line that separates expansion from contraction. It suggests firms were seeing stronger output, orders, and activity levels at the end of 2025.
Agriculture and industry were doing the heavy lifting
The December reading was strongest in agriculture at 58.5 and industry at 57.0. Services remained positive at 51.9, but it was clearly the softest of the three major sectors.
PMI is a direction signal, not a GDP figure
The PMI does not measure the size of the economy directly. It tells you whether business conditions are getting better or worse. That makes it one of the quickest official reads on real-time economic momentum.
Plain English
What the December 2025 PMI means
A PMI reading of 57.6 does not mean the economy grew by 57.6 percent. It means the balance of firms surveyed by the CBN reported better business conditions than the month before.
For readers, the simplest takeaway is this: by the end of 2025, Nigerian business activity was expanding and the signal was broad enough to show up across agriculture, industry, services, employment, output, and new orders.
That does not mean every business was thriving or every household felt relief. It means the direction of activity was positive, and the official survey was pointing to stronger momentum heading into 2026.