Nigeria’s economic activities continued to expand in April 2025, with the Purchasing Managers Index (PMI) rising to 52.2 index points — marking the fifth consecutive month of growth. The agricultural sector led the expansion, recording 53.8 index points and achieving its ninth straight month of growth, according to the Central Bank of Nigeria (CBN).
The CBN attributed the sector’s performance primarily to increased new orders. It also noted that sustained expansion across all major sectors — agriculture, industry, and services — signals a positive economic outlook for the second quarter of 2025.
“The composite PMI for April 2025, at 52.2, reflects ongoing economic expansion, indicating continued positive momentum in the Nigerian economy,” the CBN stated.
- The Industry Sector posted its fourth straight month of growth, driven by increased output.
- The Services Sector also expanded in April, supported by a rise in new business.
- The Agricultural Sector maintained its growth trend for a ninth month, fueled by strong demand.
Out of 36 subsectors across all three main sectors, 22 recorded growth. The Transportation Equipment subsector saw the highest expansion, while Paper Products experienced the sharpest decline.
Meanwhile, the Output, New Orders, and Employment indices stood at 53.2, 53.2, and 50.7 points, respectively — all indicating growth.
However, the CBN cautioned that businesses are facing pressure on profit margins, as rising input costs continue to outpace output prices.