Nigeria’s economic activity expanded for the third consecutive month in August 2026, as the Central Bank of Nigeria’s (CBN) Composite Purchasing Managers’ Index (PMI) climbed to 52.7 points, up from 51.1 in July. The growth was primarily driven by strong performances in the agriculture and services sectors, alongside a return to expansion in the industrial sector. Key metrics, including output, employment, and new orders, remained above the 50-point expansion threshold. Separately, Stanbic IBTC Bank reported that private sector business conditions saw their strongest improvement in 29 months, supporting projections for a 4.1% GDP growth rate for the year.