Nigeria’s PMI maintained steady growth in February 2026, as business activity strengthened across key sectors.
The Central Bank of Nigeria reported that the Purchasing Managers’ Index (PMI) rose to 56.4 points.
As a result, the figure marks 15 consecutive months of expansion in economic activity.
Overall, growth spread across industry, services, and agriculture, showing improving business conditions nationwide.
The survey also revealed widespread sectoral improvement.
Notably, 30 of the 36 subsectors surveyed recorded expansion during the month.
The CBN said higher production, new orders, employment, and inventories supported the continued expansion.
PMI Sector Growth
The industry sector led overall performance in February, recording a PMI of 56.8 points.
Production activity strengthened further, as the Output Index rose to 59.6 points, reflecting stronger manufacturing output.
At the same time, demand improved.
The New Orders Index stood at 56.3 points, while the Employment Index reached 54.4 points, indicating increased hiring.
Read Also: Ghana’s Gold Royalty Hike Draws U.S., China Pressure
Meanwhile, businesses expanded their input stock levels.
The Raw Materials Inventory Index reached 54.4 points.
Supply chains also improved, as the Suppliers’ Delivery Time Index stood at 58.0 points, suggesting faster deliveries.
In total, 13 of the 17 industry subsectors recorded expansion, while four posted marginal contractions.
Services Sector Expansion
Nigeria’s services sector maintained expansion, recording a PMI of 55.3 points in February.
Consequently, the sector extended its growth streak to 13 months, supported by stronger demand and business activity.
Across the sector, 13 of the 14 subsectors recorded expansion, with Educational Services leading growth.
Agriculture Sector Growth
Similarly, the agriculture sector sustained growth, posting a PMI of 56.5 points and extending expansion to 19 months.
The Purchasing Managers’ Index tracks changes in output, new orders, employment, inventories, and supplier delivery times.
