Nigeria’s private-sector activity expanded for the 11th consecutive month in October, supported by broad-based growth across industry, services, and agriculture, data from the Central Bank of Nigeria (CBN) revealed on Wednesday.
The country’s composite Purchasing Managers’ Index (PMI) rose to 55.4 points in October 2025 from 54.0 in September, marking the highest reading this year and signaling stronger business conditions across the economy.
A PMI reading above 50 indicates expansion, while a reading below that threshold signals contraction. The apex bank’s latest PMI report showed that 25 of the 36 subsectors surveyed recorded growth during the month, extending the country’s run of steady expansion to eleven months.
The performance underscores sustained improvements in business confidence, output, and employment across key segments of the economy. According to the report, the industrial sector recorded a notable rebound, with its PMI climbing to 54.2 points in October from 51.4 in the previous month.
Nine of the 17 subsectors within the group expanded during the review period, reflecting stronger manufacturing activity and improving supply-chain dynamics. Analysts said the pickup suggests that the sector’s gradual recovery is gaining traction after earlier disruptions tied to energy and input costs.
