FRI JUNE 06 2025-theGBJournal| The Purchasing Manager’s Index (PMI) printed above the 50-point threshold for the sixth consecutive month, according to the Central Bank of Nigeria (CBN).
The latest figures indicate continued expansion of business activities in the Nigerian economy.
Nonetheless, the composite PMI moderated to 52.1 points in May (April: 52.2 points), driven by broad-based moderation across the Agriculture, Industry and Services sectors.
Specifically, the Agriculture sector PMI (53.4 points vs April: 53.8 points) fell slightly due to a slowdown in general farming activities and inventories.
While the Industry PMI (51.6 points vs April: 51.8 points) remained in the expansionary territory, it pared due to ease in activities in Transportation equipment and Electricity, Gas team and Air conditioning supply subsectors.
The Services sector PMI (51.7 points vs April: 51.8 points) also moderated, reflecting a slowdown in activities across the Management of companies, Educational services and Finance & Insurance sub-sectors.
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