Abuja, September 2, 2025 – Nigeria’s private sector has recorded its strongest performance in nearly two years, driven by robust demand and a slight easing of inflationary pressures.
According to the latest Stanbic IBTC Bank Purchasing Managers’ Index (PMI), business activity climbed to 54.2 points in August, up from 54.0 in July, marking the highest level of expansion since early 2024. The PMI has now stayed above the 50.0 growth threshold for nine consecutive months, reflecting sustained improvement in economic conditions.
The report highlighted that new order growth surged to a 19-month high, while output rose at the fastest pace in four months, suggesting increased confidence among firms across manufacturing, services, agriculture, and construction sectors.
Analysts noted that while inflationary pressures remain elevated, recent moderation in price growth has offered businesses some breathing space, enabling them to meet rising consumer demand. Employment levels also showed signs of steady recovery, with more firms taking on additional staff to keep up with orders.
Economists say the trend signals resilience in Nigeria’s economy despite structural challenges, with private sector activity expected to play a key role in supporting growth under President Bola Tinubu’s economic reform agenda.
