**Nigeria's Private Sector Bounces Back: PMI Hits 53.2 in February** Nigeria's economy has shown renewed signs of vitality in February 2026, after a brief contraction in January. According to the latest Purchasing Managers' Index (PMI) data released by Stanbic IBTC Bank Nigeria, the country's private sector is back on the growth path. The PMI, which serves as a barometer for the nation's economic health, rose to 53.2 in February, significantly higher than the 49.7 mark recorded in January. This upward trend suggests that Nigeria's private sector is expanding, a welcome development after a sluggish start to the year. All four sectors monitored by the report - wholesale and retail, manufacturing, services, and agriculture - recorded growth in February, after a slowdown in January. One of the key drivers of this resurgence is the increase in new orders, largely due to improved product affordability and heightened customer traffic. In addition to the growth in new orders, Nigeria's private sector also saw a significant increase in output in February. This is a welcome development, especially considering the subdued performance in January. Furthermore, the sector continued to create jobs, with employment expanding for the ninth consecutive month, and at its fastest pace since October 2025. Companies are ramping up hiring to support higher production volumes and meet rising demand. The stronger PMI reading has been interpreted by economists and market analysts as evidence that demand conditions and corporate activity are picking up after January's temporary lull. Analysts also attribute the February rebound to a return in new orders and stronger customer demand, which drove output growth at the fastest pace in four months. Overall, Nigeria's private sector growth in February 2026 is a positive development, and a welcome respite from the economic gloom that characterized January. However, it remains to be seen whether this upward trend can be sustained in the coming months, and whether it will have a ripple effect on other sectors of the economy.