As the most recent Central Bank of Nigeria (CBN) Purchasing Managers’ Index (PMI) increased, Nigeria’s economy experienced a greater spike in productive activities in September 2025, to 54.0 points from 51.7 in August.
Marking the tenth straight month of growth, the improvement indicates rising confidence in important industries, including services, agriculture, and manufacturing.
Twenty-eight of the thirty-six subsectors examined recorded growth, according to the CBN’s September PMI report, which shows widespread growth throughout the economy.
The apex bank credited the improvement to higher employment, faster supplier delivery times, and better output levels, implying a more efficient business environment despite inflationary pressures.
With a PMI value of 54.7 points, the services industry stayed the main engine of growth and kept expansion going for the eighth straight month. Out of 14, twelve service subsectors reported higher commercial activity, especially in hospitality, food services, and educational services.
While professional and technical services reported little decreases, educational services saw the most notable increase in activity.
With an outstanding PMI of 54.8 points—its fourteenth straight month of growth—the agriculture industry is still seen as the foundation of the recovery.
The News Chronicle observed that this resilience in agriculture reflects growing domestic output and persistent political support for food security even as farmers struggle with escalating input costs and logistical difficulties.
With a PMI of 51.4 points versus 49.1 before, the industrial sector rebounded to an expanding level after a brief downturn in August. Eleven of the 17 industrial subsectors monitored reported growth, led by printing and associated support activities; non-metallic mineral goods suffered the largest drop.
Furthermore, revealed by the report revealed that gaps in pricing between input and output expanded to 8.2 index points, therefore stressing continuous cost pressures on farmers, especially in agriculture, which recorded the highest input price index at 68.4 points.
Notwithstanding these difficulties, the CBN observed that a better business mood and policy measures to restrain inflation keep the economy on a stable path. Inflation and an increase of credit availability for small and medium-sized companies.
