Nigeria’s private sector expansion gained further momentum in November 2025, as the key Purchasing Managers’ Index indicator climbed to 56.4.

This marks a stronger, broad-based uptick in economic activity, cementing a year of steady recovery.

The Central Bank of Nigeria’s latest PMI report confirms a twelfth straight month of private sector expansion in November, with all key indicators now exceeding their levels from earlier in 2025.

“Overall, the November 2025 PMI data indicated a continued expansion in economic activities across all sectors, surpassing all earlier indices in the year,” the report stated.

The key sub-indices indicates significant improvement:

Output Index: 59.1 points; New Orders Index: 56.7 points; Employment Index: 54.4 points; Raw Materials Inventory: 54.3 points; and Suppliers’ Delivery Time: 55.6 points.

This sustained growth is fueled by a powerful combination of rising production, surging market demand, and significantly improved supply chain dynamics. As a result, businesses across the board are reporting more efficient operations, a steady influx of new orders, and accelerated delivery times.

Despite mild contractions in seven subsectors, including a notable drop in Paper Products, the industrial sector maintained its expansion with a PMI of 54.2.

This resilience was largely driven by strong performance in pockets like Water Supply, Sewage & Waste Management, which recorded the highest growth.

Nigeria’s economic recovery is now undeniable. The November PMI data marks a full year of continuous expansion, with sustained readings above 55 pointing to a deep-seated, robust rebound.

This consistent growth offers a clear signal of stability, turning the page on years of volatility and inflation.