Nigeria’s private-sector activity expanded for the 11th consecutive month in October 2025, driven by broad-based growth across industry, services, and agriculture, according to data released by the Central Bank of Nigeria (CBN) on Wednesday.
The country’s composite Purchasing Managers’ Index (PMI) rose to 55.4 points in October, up 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 in private-sector activity, while readings below 50 signal contraction.
According to the CBN’s latest report, 25 of the 36 subsectors surveyed recorded growth during the month, underscoring sustained improvement in business confidence, output, and employment across key segments of the economy.
The industrial sector posted a notable rebound, with its PMI rising to 54.2 points in October, up from 51.4 points in September. Out of the 17 subsectors within the group, nine recorded expansion, reflecting stronger manufacturing output and improving supply-chain conditions.
Analysts noted that the upturn in the industrial sector indicates that economic recovery is gradually gaining traction following earlier challenges tied to high energy and input costs.
The sustained growth trend, now spanning almost a year, highlights the resilience of Nigeria’s private sector amid ongoing economic reforms and inflationary pressures.
