Nigeria’s economy continued its steady growth streak for the 11th consecutive month in October 2025, as the Central Bank of Nigeria’s (CBN) Composite Purchasing Managers’ Index (PMI) rose to 55.4 points, up from 54.0 points in September.
The CBN report showed that 25 of 36 subsectors recorded expansion, reflecting stronger business confidence and sustained output growth across the economy.
In the industrial sector, the PMI climbed to 54.2 from 51.4, signalling renewed activity and improved performance in 9 of 17 subsectors. The services sector maintained its leadership in non-oil growth with a PMI of 55.6, marking nine straight months of expansion as 11 of 14 subsectors recorded growth.
Meanwhile, agriculture, a key driver of Nigeria’s recovery, posted a PMI of 55.7, its 15th consecutive month of expansion, the longest among all sectors. All five agricultural subsectors grew, though the sector saw the widest input-output price gap (8.4 index points), reflecting rising production costs.
The CBN said the sustained momentum underscores broad-based economic resilience and a gradual strengthening of productive capacity nationwide.
