In February 2026, Nigeria's economic productivity rebounded significantly, as indicated by the Purchasing Managers' Index (PMI) which rose to 53.2 from 49.2 in January. This positive shift reflects a renewed rise in new orders which contributed to an accelerated increase in business activity. Overall, this suggests a solid monthly improvement in the health of the private sector, which had experienced a setback in January, falling below the critical no-change mark of 50.0.

The PMI report highlighted that after the dip in January, business conditions have been consistently improving since December 2024, indicating a resilient economic environment for Nigerian companies. The acceleration of business activities in February marked the largest increase in four months, showcasing regrowth and confidence among businesses. Companies reported higher customer numbers and an ongoing rise in output, reflecting the optimistic sentiment in the market.

The report suggests that this rebound in productivity is crucial for Nigeria as it struggles with various economic challenges. The growth momentum in the private sector is essential for overall economic stability and could potentially lead to more job creation and increased consumer spending, contributing to a stronger economic future for the country.