Report has indicated that the macro economic reforms undertaken by the Central Bank of Nigeria (CBN) are yielding positive results through a sustained improvement in Nigeria’s domestic economic prospects.
According to the CBN’s PMI survey, out of the 36 subsectors captured in the survey, 22 reported expansions in output and new business orders in August 2025.
The report stated thus, “At 51.7 points in August 2025 the composite PMI remained above the 50 point threshold. This reading reflects continued expansion in economic activity, driven primarily by robust performance in key employment-intensive sectors, notably agriculture (53.9 points) and services (51.9 points).
“These sectoral dynamics reflect positive momentum in job creation and business confidence, reinforcing the prospects for a broad-based economic recovery.
“This broad-based improvement in sectoral performance signals sustained rebound in domestic demand and productive activities, particularly within the non-oil sector. The breadth of expansion further underscores growing business (and investor) confidence in the new domains, particularly in the services sector.
“This positive development could largely be attributed to the implementation of macroeconomic stabilisation reforms and creation of a more supportive environment of business”.
The executive summary of the report revealed that “the composite PMI for August 2025 stood at 51.7 points, indicating an expansion in economic activities for the ninth consecutive month. Out of the 36 subsectors covered in the survey, 22 experienced expansion in economic activity.
“At 49.1 index points in August 2025, the industry sector recorded contraction in the review month. 7 subsectors recorded growth in activities out of the 17 subsectors reviewed. The service sector index, at 51.9 points in August 2025, indicated expansion for the seventh consecutive month, with 10 subsectors recording growth in economic activities out of the 14 subsectors covered.
“At 53.9 index points, the Agriculture sector recorded expansion for the thirteenth consecutive month in August 2025. All 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,” it said.
