MARKET NEWS

by Samson Elijah

The federal government has said that Nigeria’s economy expanded consistently for 12 consecutive months in 2025, reflecting sustained growth in economic activities despite global and domestic challenges.

Minister of Information and National Orientation, Mohammed Idris, disclosed this on Monday in Abuja while presenting the federal government’s end-of-year scorecard.

Idris said the sustained expansion was evident in the Purchasing Managers’ Index (PMI), a key indicator of business confidence, which showed uninterrupted growth throughout the year.

“The most recent Purchasing Managers Index (PMI) data—an important measure of business sentiment—indicates that Nigeria has now seen 12 consecutive months of expansion in economic activities,” he said.

Idris noted that the performance underscored the resilience of the non-oil sector, even in the face of inflationary pressures and global economic uncertainties.

According to the minister, Nigeria’s Gross Domestic Product (GDP) grew by 3.98 per cent in the third quarter of 2025, driven largely by expansion in services, trade and manufacturing.

He also said headline inflation declined for eight consecutive months to 14.45 per cent in November 2025, while the country’s external reserves strengthened to approximately $44.56 billion.

“Our external reserves have strengthened to approximately $44.56 billion, providing a robust buffer that stabilises our currency and reassures international investors,” he said.

Idris stressed that the federal government remains committed to consolidating macroeconomic stability and ensuring that growth indicators translate into improved living standards for Nigerians.

He added that the 2026 budget would prioritise security, infrastructure development, youth empowerment and social welfare to sustain the current economic momentum.

“The mission of 2026 is to raise the edifice of a secure, competitive and prosperous Nigeria,” the minister said, noting that reforms undertaken by the administration were beginning to yield long-term benefits.

He described President Bola Tinubu’s vision for the country as bold and focused, assuring that Nigeria was “truly on the move” towards inclusive and sustainable growth.