Nigeria’s economic activity reached its highest peak of 2025 in December, hitting 57.6 index points. The Central Bank of Nigeria (CBN) reported that this marks the thirteenth consecutive month of growth. According to the apex bank, “The composite PMI stood at 57.6 index points… indicating a stronger and broad-based expansion in aggregate economic activity.”
The industrial sector achieved a five-year milestone, reaching 57.0 points, its best performance since March 2020. This growth was widespread, with 14 of 17 industrial subsectors reporting expansion. Meanwhile, the services sector maintained positive momentum for its eleventh month, and the agriculture sector led the charge as the strongest performer overall, recording an impressive 58.5 index points.
Despite the robust productivity, the report highlighted significant financial pressures. The CBN noted that input prices across all sectors are rising faster than output prices, indicating mounting cost burdens for businesses. Overall, the data reflects a thriving yet expensive economic environment, with 32 of 36 surveyed subsectors showing active expansion as the year concluded.