MON MARCH 10 2025-theGBJournal| Nigeria’s private sector recorded its fastest expansion in over a year, as the Purchasing Manager’s Index (PMI) rose to 53.7 in February 2025, up from 52.0 in January, according to the latest Stanbic IBTC PMI report.
This marks the third consecutive month of growth, signaling a solid improvement in business conditions across key sectors.
The report highlights that stronger demand and higher sales drove the increase in output, new orders, and purchasing activity.
All four monitored sectors agriculture, manufacturing, services, and wholesale & retail saw growth in February, though the wholesale and retail sector’s expansion was marginal.
The sustained rise in new orders suggests that businesses are experiencing increased customer confidence and spending capacity.
Inflationary pressures moderated to their lowest level in ten months, though input costs remained elevated due to higher raw material prices and rising staff expenses.
Despite this, the pace of price increases slowed, providing some relief for businesses navigating cost challenges.
X-@theGBJournal|Facebook-the Government and Business Journal|email:gbj@govbusinessjournal.com|govandbusinessj@gmail.com
