Nigeria’s economic activity continued to expand strongly in January 2026 as the Central Bank of Nigeria’s (CBN) composite Purchasing Managers’ Index (PMI) rose to 55.7 points.
This marks the fourteenth consecutive month of growth above the 50 point threshold that separates expansion from contraction. The latest data indicates broad based improvement across most sectors with 31 out of 36 surveyed subsectors recording growth.
Okay News reports that the expansion was led by the industry sector which posted a PMI of 56.0 points. It was followed by services at 54.5 points and agriculture at 54.2 points. The sustained performance across all three major pillars of the economy points to improving business confidence and stable demand conditions. Agriculture has now expanded for eighteen straight months which reinforces signs of a gradually strengthening recovery.
The January reading follows December 2025’s strong finish of 57.6 points the highest PMI performance of that year. This indicates that positive economic momentum has been maintained rather than reversed at the start of 2026. The CBN noted that the consistent expansion aligns with its broader objective of fostering price stability while supporting sustainable growth.
As a key forward looking indicator the PMI surveys changes in output new orders employment and inventories within the private sector. The sustained readings above 50 suggest Nigeria’s economic recovery is gaining depth and resilience. This provides policymakers with a positive signal while underscoring the need to maintain supportive macroeconomic conditions.
