Private Sector Growth Hits 4-year High As PMI Rises To 56.4 In September

Nigeria’s private sector recorded its strongest growth in over four years in September 2026, driven by a sharp rise in new orders and business activity.
The Stanbic IBTC Bank Nigeria Purchasing Managers’ Index (PMI) increased for the second consecutive month to 56.4 in September from 54.3 in August, signalling the most pronounced improvement in business conditions since February 2022.
According to the report, readings above 50.0 indicate expansion, while below 50.0 shows deterioration. The latest figure points to a marked and broad-based improvement across the private sector.
“A key driver was firms’ success in securing new orders, supported by improving customer demand and the laun...