WED FEB 04 2026-theGBJournal| Nigeria manufacturing activity rose for the Fourteenth consecutive month in January, as employment, new order and output indices posted expansion at 57.2, 55.0 and 52.8 points, respectively, according to the Central Bank of Nigeria (CBN) Purchasing Manages’ Index published today.
The CBN Purchasing Manages’ Index for Nigeria industry climbed to 56.0 points, reflecting an expansionary trajectory for January 2026, with 14 out of the 17 subsectors surveyed reporting expansion, and indicating stronger, robust and widespread expansion in industry activity.
Services component jumped to 54.5 points, indicating sustained expansion for the twelfth consecutive month, while the agriculture sector recorded expansion for the eighteenth consecutive month.
All the five subsectors, according to the CBN, recorded growth in agricultural activities in January.
Similarly, the input and output price indices moderated, with output prices declining more for the Composite, Services and Agriculture indices.
The overall Composite PMI came in at 55.7 points, reflecting expansion in aggregate economic activity for the fourteenth consecutive month.
Out of the 36 subsectors covered by the CBN, 31 experienced expansion in economic activities.
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