THUR SEPT 11 2025-theGBJournal| Nigeria’s composite Purchasing Managers’ Index (PMI) for August 2025 stood at 51.7 points, indicating an expansion in economic activities for the ninth consecutive month, according to the Central Bank of Nigeria (CBN) Purchasing Managers’ Index report for August.
This reading reflects continued expansion in economic activity, primarily driven by robust performance in key employment intensive sectors, notably agriculture which stands now at 53.9 points and services-51.9 points.
”These sectoral dynamics reflect positive momentum in job creation and business confidence, reinforcing the prospects for a broad-based economic recovery,” the CBN said.
Of the thirty-six subsectors captured in the PMI survey, twenty-two reported expansions in output and new business orders in August 2025.
The broad-based improvement in sectoral performance signals sustained rebound in domestic demand and productive activities, particularly within the non-oil sector.
The CBN notes that the breath of expansion further underscores growing business (and investor) confidence in the new domains, particularly in the service sector.
The CBN attributes the ”positive development” to the implementation of microeconomic stabilization reforms and creation of a more supportive environment of business.
However, amidst the positive performance of services and agriculture sectors is the worrying development in the Industry sector.
Nigeria’s Industry sector suffered a fresh setback in August 2025, reflected in Output, New Order and employment contraction at 49.6, 47.2 and 48.9 index points, respectively.
Among the 17 sub-sectors surveyed in the Industry sector, 7 recorded expansions, while the remaining 10 subsectors indicated contraction amidst Stock of Raw Materials contraction (at 48.9 index points in the review month).
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