SAT MAY 24 2025-theGBJournal| Latest data published by the Central Bank of Nigeria (CBN), the Purchasing Manager’s Index (PMI) printed above the 50-point threshold for the fifth straight month, indicating sustained expansion of business activities in the Nigerian economy.
The composite PMI moderated to 52.2 points in April (March: 52.3 points), driven by a slowdown in the agriculture sector.
The Industry PMI (51.8 points vs March: 51.5 points) expanded due to improved activities in the Transportation Equipment, Petroleum and Coal Products and Printing and Related Supports subsectors.
The Services sector PMI (51.8 points vs March: 51.5 points) expanded, reflecting resilient activities across the Management of Companies, Educational Services and Finance & Insurance sub-sectors.
Elsewhere, the Agriculture sector PMI (53.8 points vs March: 54.7 points) pared, reflecting a slowdown in general farming activities and inventories, partly due to the onset of the planting season.
Analysts anticipate a sustained expansion of private sector activities, supported by improving macroeconomic conditions such as naira stability and easing inflationary pressures.
However, persistently tight financial conditions may present a downside risk to overall economic activity in the near term.
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