Nigeria’s economic activities continued their upward trajectory, marking 11 consecutive months of growth, according to the latest report from the Central Bank of Nigeria (CBN).
The composite Purchasing Managers Index (PMI) for October 2025 stood at 55.4 points, up from 54.0 points in September, reflecting sustained expansion across key sectors.
Out of the 36 subsectors surveyed, 25 reported growth, highlighting broad-based improvements in industrial, services, and agricultural activities.
The industrial sector rose to 54.2 points in October, with 9 of 17 subsectors recording growth, while the services sector maintained momentum at 55.6 points, led by 11 expanding subsectors.
Agriculture continued its strong performance with a PMI of 55.7 points, marking the fifteenth consecutive month of expansion and leading all sectors.
The CBN report noted that key indices such as Output (57.2 points), New Orders (56.0 points), and Employment (53.8 points) all recorded gains, signaling continued economic resilience.
The composite stock of raw materials and suppliers’ delivery time indices also improved, reflecting greater efficiency and responsiveness in supply chains.
While 11 subsectors experienced minor contractions, led by Petroleum and Coal Products, their impact was outweighed by the broad growth across other sectors.
Analysts say the sustained expansions indicate strengthened economic fundamentals and a positive outlook for Nigeria’s fourth-quarter performance.
“The PMI report reflects respondents’ perspectives and does not represent the view of the CBN. The bank cannot be held responsible for actions taken based on this survey,” the report clarified.
