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Nigeria’s Private Sector Growth Accelerates to 13-Month High

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Abuja, Nigeria. © dpa picture alliance archive / Alamy Stock Photo

Ronald Adamolekun

Ronald Adamolekun is a financial journalist with an expansive experience covering markets, energy, banking, tech and the political economy.
  • Stanbic IBTC PMI rises to 53.7 in February, marking the strongest expansion since January 2024
  • Exchange rate stability and easing inflationary pressures drive improved business conditions

Nigeria’s private sector expanded at its fastest pace in over a year in February as output, purchasing activity, and new orders accelerated, according to the Stanbic IBTC Bank Nigeria Purchasing Managers’ Index (PMI) released on Monday.

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