Nigeria’s private sector recorded steady expansion in March 2025, with the Central Bank of Nigeria (CBN) reporting a Purchasing Managers’ Index (PMI) increase to 52.3 from 51.4 in February.
The latest figures mark the third consecutive month of business expansion, driven by strong customer demand and new project commitments across multiple industries.
According to the CBN report, all major sectors—Industry, Services, and Agriculture—posted positive growth, signaling increased economic confidence.
“The composite PMI for March 2025, at 52.3 index points, indicates expansion in economic activities for the third consecutive month,” the report stated.
Sectoral Performance Breakdown
The Industry Sector recorded a PMI of 51.5, reflecting steady industrial expansion.
The Services Sector also stood at 51.5, maintaining growth momentum in the economy’s service-driven industries.
The Agriculture Sector outperformed both, posting a robust PMI of 54.7, indicating strong productivity growth and rising investment in farming activities.
Beyond sector-specific growth, several key economic indices signaled positive trends:
- The Output Index stood at 52.8, showing increased production levels.
- The New Orders Index recorded 52.2, reflecting higher demand.
- The Employment Index posted 51.7, indicating moderate job creation.
Market analysts believe Nigeria’s private sector resilience is improving, though continued economic reforms will be vital to sustain long-term expansion.
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