CBN PMI Shows 14th Month of Economic Expansion in Nigeria

Nigeria's economy expanded for the fourteenth consecutive month in January 2026 as the Central Bank's Purchasing Managers' Index (PMI) rose to 55.7 points. This marks sustained growth across agriculture, industry, and services sectors, with 31 of 36 subsectors showing expansion. The composite PMI, which tracks output, demand, and business confidence, remained above the 50-point expansion threshold. Industry (56.0 PMI) and services (54.5 PMI) both extended their growth streaks, while agriculture maintained its eighteenth consecutive expansion month. Despite this positive momentum, structural challenges like inflation, exchange rate volatility, and power supply issues persist. The PMI indicates improving business conditions but highlights ongoing constraints that could affect long-term stability. Investors should monitor these mixed signals as the recovery gains depth but faces persistent headwinds.

SOURCE: https://nairametrics.com/2026/02/05/cbn-pmi-hits-55-7-in-january-2026-signals-14-month-expansion/