By Nchetachi Chukwuajah
The Central Bank of Nigeria (CBN) claimed that economic activities further improved in December 2025, with 32 subsectors recording expansion.
The CBN disclosed this in its Purchasing Managers’ Index (PMI) report released on Tuesday, December 30.
According to the report, the composite PMI rose to 57.6 index points in December 2025 from 56.4 points in November, marking the 13th consecutive month of expansion.
It said: “Overall, the December 2025 PMI data showed a sustained expansion in economic activity across all sectors, outperforming all earlier indices recorded during the year.”
The apex bank further noted that the sustained expansion reflects improved economic activities across all major sectors, including industry, services, and agriculture.
It added that the expansion provides strong evidence of robust and sustainable growth momentum and reflects a positive economic outlook for the fourth quarter (Q4) of 2025.
The CBN’s report showed that out of the 36 subsectors surveyed, 32 recorded expansion during the month, with the strongest growth recorded in the transportation equipment subsector.
It further showed that economic activity in the professional, scientific, and technical services subsector remained unchanged, while three subsectors recorded contractions, with paper products posting the highest decline.
“However, the overall contractionary impact was insignificant to offset the broad-based expansion observed across the other 32 subsectors,” the report added.
The report also noted that the industry sector PMI stood at 57 points in December, reflecting sustained expansion in industrial activity supported by increased performance during the festive season.
The CBN further said output, new orders, and employment indices stood at 59.5, 57.4, and 53.4 points, respectively, indicating improvements in production and labour engagement.
It added that the raw materials inventory index increased to 54.9 points, while the suppliers’ delivery time index stood at 58.2 points, indicating improved supply-chain efficiency.
The apex bank said, “Out of the 17 subsectors surveyed within the industry sector, 14 recorded expansions, while the remaining three subsectors reported contractions.
“However, the contractions were marginal and insignificant to offset the overall positive performance of the sector, which maintained an expansionary trajectory.
“Transportation Equipment recorded the strongest expansion among the subsectors, while Paper Products posted the most pronounced contraction during the review period.”
The services sector PMI rose to 56.4 points in December, marking the 11th consecutive month of expansion.
The CBN added: “The Business Activities (Output), New Orders, Employment and Inventories indices at 59.1, 58.4, 54.4 and 53.8 points, respectively, all indicating expansion in the review month.”
According to the CBN, all 14 services subsectors recorded growth, except professional, scientific, and technical services, which remained stationary.
During the month, the agriculture sector PMI stood at 58.5 points, marking the 17th consecutive month of expansion, which is the longest sustained growth streak across the sectors.
The CBN said the general farming activities, new orders, employment, and raw materials inventory sub-indices recorded expansion at 62.3, 61.0, 54.9, and 55.7 index points, respectively, in December, reflecting sustained growth momentum in the agriculture sector.
