Dike Onwuamaeze
The manufacturing sector posted the sharpest rise in enter and output prices in December 2025 among the many sectors that had been coated by the Buying Managers’ Index (PMI) report of the Stanbic IBTC Financial institution Nigeria whereas the companies recorded the slowest tempo of inflation.
The sectors coated by the survey embody agriculture, mining, manufacturing, building, wholesale, retail and companies.
The report attributed the rise in enter and output costs to hikes in costs for uncooked supplies, which led to an additional rise in buy prices in December.
The report additionally mentioned that manufacturing was the one sector that didn’t expertise rise in employment in December 2025.
Commenting on the PMI report, the Head of Fairness Analysis West Africa at Stanbic IBTC Financial institution, Mr. Muyiwa Oni, mentioned; “Whereas total enter costs elevated sharply in December from the close to five-year low posted in November, the speed of inflation was weaker than the 2025 common. Due to this excessive enter price, promoting costs additionally elevated in December with probably the most important value enhance seen within the manufacturing sector.”
The report added, “the move by way of of upper uncooked materials prices to clients resulted in a marked month-to-month rise in promoting costs throughout December,” with the manufacturing posting the sharpest rise in value.
“The speed of inflation was solely barely faster than the five-and-a-half yr low posted in November. Nevertheless, the sharpest enhance in fees was within the manufacturing sector, whereas the slowest was in wholesale and retail.”
It mentioned: “Nigerian corporations elevated their staffing ranges for the seventh month operating in December amid rising buyer demand. That mentioned, the tempo of job creation was solely marginal and the slowest since final June. Employment rose in three of the 4 monitored sectors, the exception being manufacturing.”
General, the PMI report said that the Nigerian personal sector remained in progress territory on the finish of 2025 as enhancements in buyer demand fed by way of to greater new orders, output and buying exercise.
It said: “The ultimate month of 2025 noticed an additional marked growth in enterprise exercise in Nigeria’s personal sector, with the speed of progress little-changed from that registered in November.
“Output has now risen in 13 consecutive months. Respondents linked progress to new orders from each new and current clients, with some noting tailwinds from softer inflationary pressures. Exercise elevated throughout all 4 monitored sectors, led by agriculture.”
It added that buying exercise additionally elevated throughout December. “The most recent rise was sharp, albeit the softest in three months. Anecdotal proof prompt that enter shopping for was expanded consistent with bettering buyer demand,” the report mentioned.
Based on Oni, the headline PMI (53.5 vs November: 53.6) moderated for the second consecutive month in December, though nonetheless within the progress territory and the newest studying is broadly consistent with the common for 2025 as an entire.
“The continued growth in enterprise exercise in December, albeit barely softer than November, displays greater buyer demand, which supported a marked month-to-month enhance in new orders. This in flip inspired corporations to develop their buying exercise and stock holdings.
“In the meantime, there was a marked enchancment in enterprise confidence among the many corporations as sentiment hit a six-month excessive, linked to deliberate investments in enterprise expansions, together with opening of latest branches and plans to spice up merchandise exports,” he mentioned.
