Nigeria has reclaimed the top spot for private-sector business activity in Africa, with its Purchasing Managers’ Index (PMI) rising to 56.4 in September, up from 54.3 in August. This marks the highest reading since February 2022, signaling a strong end to the third quarter. According to S&P Global data, the expansion was driven by robust customer demand and new orders, which pushed output, purchasing, and employment to their fastest growth rates in over four years. Despite persistent cost pressures from fuel and raw materials, business sentiment remains optimistic regarding growth over the next 12 months. Economists now project stronger non-oil sector performance, with full-year GDP growth estimates for 2026 reaching approximately 4.4 percent.