Nigeria’s private sector ended the first half of 2026 on a stronger footing, offering fresh evidence that the economy is maintaining momentum despite persistent inflationary pressures and growing uncertainty ahead of the 2027 general elections.
The latest Stanbic IBTC Bank Purchasing Managers’ Index (PMI), released on Tuesday, showed business activity remained firmly in expansion territory for the fifth consecutive month. Although the headline index eased slightly to 53.4 in June from 54.1 in May, it stayed above the 50-point threshold that separates growth from contraction, signalling continued improvement in business conditions.
The June survey showed that stronger customer demand and new product launches continued to lift sales, leading businesses to increase production, purchasing activity, and employment.
New orders expanded for the fifth straight month, while firms increased staffing for a thirteenth consecutive month, the strongest pace of hiring since February. Companies also raised inventory holdings in anticipation of stronger demand
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