Lagos, Nigeria – Nigeria’s private sector returned to expansion in February, as the Stanbic IBTC Bank Purchasing Managers’ Index rose to 53.2 from 49.7 in January, signalling a renewed improvement in business conditions after a brief contraction at the start of the year.
Okay News reports that the rebound was driven primarily by a renewed increase in new orders, supported by improving customer demand and better product affordability. Output rose at the fastest pace in four months, with all four monitored sectors recording growth in February.
Employment rose for the ninth consecutive month, reaching the fastest pace since October 2025. An appreciation of the naira contributed to a marked slowdown in inflationary pressures, with purchase cost inflation easing to its weakest level in just over six years.
This PMI expansion reflects strengthening business conditions and easing price pressures across the private sector.
