Nigeria’s private sector maintained strong momentum in November 2025 as the Composite Purchasing Managers Index climbed to 56.4 points compared to 55.4 in October.
The latest reading signals sustained improvement in business conditions and marks the twelfth consecutive month in which the index has remained above the growth threshold.
The new figures were contained in the Central Bank of Nigeria’s PMI report, which shows that all major indicators performed better than earlier readings recorded throughout the year.
The bank noted that the November data reflected a broad expansion across multiple industries as demand improved and businesses responded with higher output and stronger employment numbers.
The News Chronicle gathered that government and monetary authorities view the continued rise in PMI as a sign that earlier policy adjustments are starting to stabilise private sector activity, especially after a period of inflationary pressure and fluctuating exchange rates.
Sub indices showed production rising to 59.1 points while new orders reached 56.7 points, suggesting that businesses are receiving more customer requests and delivering more goods and services.
Employment advanced to 54.4 points, indicating firms are hiring again, while raw materials inventory and suppliers’ delivery time also improved, reflecting smoother supply chain operations.
The industry sector recorded moderate but steady growth at 54.2 points. Although seven out of seventeen industrial subsectors posted slight contractions, categories such as water supply, sewage, and waste management recorded significant expansion.
Raw material inventory slipped below the 50 point mark, pointing to reduced input levels or more disciplined inventory control among manufacturers.
The services sector continued its upward trend with a PMI of 56.8 points, marking ten months of uninterrupted growth. All fourteen subsectors expanded, with educational services showing the strongest improvement due to rising enrolment and private investment. Professional and technical services grew more slowly but remained on the positive side of the index.
Agriculture remained the strongest performer at 58.2 points and continued its remarkable run of sixteen straight months of expansion. All subsectors posted growth, with general farming activities and forestry recording the highest improvements.
The November PMI reading reinforces confidence in the direction of the economy at a time when stability is crucial. Analysts note that sustained readings above 55 for several months demonstrate not only recovery but resilience, strengthening optimism among investors and businesses planning new expansions as Nigeria enters the final stretch of the year.
