01.09.202509:29:45UTC+00Nigeria PMI Growth Signals Continued Expansion

The Stanbic IBTC Bank Nigeria PMI increased to 54.2 in August 2025 from 54.0 in July, marking the most significant enhancement in business conditions since April 2025. Both output and new orders experienced a notable rise, reaching growth peaks not seen in four and 19 months respectively. This surge was fueled by heightened customer demand and strengthened client commitment to new projects. Additionally, there was a notable rise in inventory accumulation as companies anticipated future demand. While employment and purchasing activity continued to grow, the rate was more moderate. Conversely, the manufacturing sector was the only one where output did not advance, as firms reduced outstanding business for the first time in five months. Regarding pricing, the increase in input costs decelerated and output prices climbed at their slowest rate in over five years. On the whole, business confidence slightly diminished but stayed positive, driven by expectations of increased new orders, branch expansions, and marketing strategies.