The country’s official Purchasing Managers’ Index (PMI) eased to 51.7 in August 2025, down from 52.7 in the preceding month, according to the Central Bank of Nigeria’s (CBN) PMI report for last month.
The report, which was released yesterday, however, said that the composite PMI data for August indicated that economic activities expanded for the ninth straight month, adding that out of the 36 subsectors covered in the survey 22 recorded an expansion in economic activity.
Specifically, the report said that at 49.1 index points, the industry sector recorded a contraction in August 2025, with 10 of its subsectors recording a decline in activities among the 17 surveyed. It stated: “The Industry Sector index, at 49.1 points, indicated contraction in industrial activities in August 2025.
“Output, New Orders and employment indicated decline in August 2025 at 49.6, 47.2 and 48.9 index points, respectively. “Similarly, Stock of Raw Materials experienced contraction at 48.9 index points in the review month. “However, in August 2025, the Suppliers’ Delivery Time index recorded fast delivery time at 52.4 index points.
“Among the 17 sub-sectors surveyed in the Industry sector, 7 recorded expansions, while the remaining 10 subsectors indicated contraction. The report added that the sub-sector with the highest expansion was “Transportation equipment” while “Paper products” recorded the highest level of contraction.”
However, the report said the Services and Agriculture sectors recorded expansion at 51.9 and 53.9 index points respectively. It stated: “The Service Sector index, at 51.9 points in August 2025, indicated expansion for the seventh consecutive month, with ten (10) subsectors recording growth in economic activities out of the fourteen (14) subsectors covered.
“At 53.9 index points, the Agriculture Sector recorded expansion for the thirteenth consecutive month in August 2025. All the five (5) subsectors recorded growth in agricultural activities.”
“Industry Sector recorded the highest input and output prices gap in the month of August 2025 at 7.4 points, while services recorded the lowest gap at 3.7 points.”
