The Central Bank of Nigeria released its Purchasing Managers’ Index report for July 2025, indicating that economic activity expanded for the eighth consecutive month, with the composite PMI at 52.7 and growth recorded across industry, services and agriculture. Industry registered 51.1, with 11 of 17 subsectors expanding, while services rose to 52.8 with 10 of 14 subsectors expanding. Agriculture posted 53.9, marking a twelfth consecutive month of expansion and growth across all five subsectors. Out of 36 subsectors covered, 26 reported expansion, led by transportation equipment, while ten recorded moderation, with paper products showing the highest decline. Key composite components also expanded, including output (54.0), new orders (52.4), employment (51.8) and stocks of raw materials (51.8), while suppliers’ delivery time improved to 53.1, indicating faster deliveries. The widest input and output price gap was recorded in agriculture at 8.6 points, compared with 4.8 points in services.
Central Bank of Nigeria 2025-09-01
Central Bank of Nigeria publishes July 2025 PMI showing an eighth consecutive month of expansion
The Central Bank of Nigeria's July 2025 Purchasing Managers’ Index report shows economic activity expanded for the eighth consecutive month, with a composite PMI of 52.7. Growth was noted across industry, services, and agriculture, with 26 of 36 subsectors expanding. Key components such as output, new orders, and employment also saw expansion, while suppliers’ delivery time improved.