Nigeria’s private sector recorded another month of growth in November 2025 as the Composite Purchasing Managers’ Index, PMI, rose to 56.4 points from 55.4 in October, signalling stronger economic activity across key sectors of Africa’s largest economy.
In a report monitored by Okay News, the Central Bank of Nigeria, CBN, confirmed that the November PMI marked the twelfth consecutive month of expansion and reflected broad-based improvements across production, orders, employment, and supply chains.
According to the CBN, all major indicators outperformed earlier 2025 levels, reinforcing optimism about Nigeria’s business environment. The Output Index climbed to 59.1 points, while the New Orders Index reached 56.7 points, showing increasing demand across firms. Employment rose to 54.4 points as companies expanded their workforce to meet rising activity, and suppliers’ delivery time improved to 55.6 points.
Industrial activity remained positive with an Industry Sector PMI of 54.2 points, despite slight contractions in seven of the 17 subsectors surveyed. Paper Products recorded the steepest decline, while Water Supply, Sewage and Waste Management posted the strongest expansion. Output in the sector reached 57.1 points, and new orders hit 54.4 points, even as raw materials inventory fell below the neutral 50-point mark.
The Services Sector PMI held firm at 56.8 points for the tenth straight month of growth. All 14 service subsectors expanded, with Educational Services leading due to growing enrolment and increased private investment. Professional, Scientific and Technical Services grew at a slower pace but still remained in positive territory.
Agriculture maintained its position as Nigeria’s strongest-performing sector, with an Agriculture Sector PMI of 58.2 points, marking 16 consecutive months of expansion. All five subsectors recorded growth supported by better access to inputs, steady farming activity, and rising domestic demand. General farming activities reached 61.4 points, while new orders increased to 59.5 points.
The sustained upward movement in Nigeria’s PMI provides key insight into the country’s economic direction at a time when stability is essential. Holding above the 55-point level for several months indicates durable recovery, strengthening investor confidence and supporting job creation, improved business performance, and a more resilient economy.
