Nigeria’s economic activities continued their upward trajectory in January 2026, with the Purchasing Managers Index (PMI) reaching 55.7 points, marking the 14th consecutive month of expansion, according to the Central Bank of Nigeria (CBN).
Brandspur Banking News Desk reports that growth was recorded across key sectors, including industry, services, and agriculture. The industry sector led the expansion with 56.0 index points, reflecting a robust and widespread increase, as 14 of the 17 subsectors surveyed reported growth during the period.
The services sector maintained momentum with a PMI of 54.5 points, indicating its twelfth month of sustained expansion. Out of 14 subsectors, 12 experienced growth, underscoring the broad-based performance of the sector. The agriculture sector also continued its upward trend, recording 54.2 index points and marking the eighteenth consecutive month of expansion. All five subsectors surveyed in agriculture showed growth in January 2026.
Overall, the CBN noted that out of 36 subsectors covered in the survey, 31 experienced expansion, highlighting a general improvement in economic activity. The report also indicated a moderation in input and output price indices, with output prices declining across the composite, services, and agriculture indices.
The sustained expansion reflects resilience in Nigeria’s economy, supported by positive performance across multiple sectors. Analysts say these figures signal a stable business environment and optimism for continued economic growth in the coming months.
