June Purchasing Managers’ Index indicates sustained economic growth

The Purchasing Managers’ Index (PMI) report for June 2025, published by the Central Bank of Nigeria (CBN), indicated a sustained positive trend in the Nigerian economy. The composite PMI recorded 52.3 index points, representing the sixth consecutive month of economic growth. The Agriculture sector led with 55.2 index points, marking its eleventh consecutive month of expansion, primarily due to increased farming activities.

The Industry sector followed with 51.4 index points, also expanding for the sixth month, driven by elevated production levels. Likewise, the Services sector achieved 51.3 index points, which can be attributed to heightened business activities. Additionally, the composite Output (53.5 index points), New Orders (52.3 index points), and Employment levels (50.5 index points) all demonstrated positive growth, indicating widespread economic improvement.

Nevertheless, maintaining this momentum necessitates addressing significant infrastructural and structural challenges that businesses encounter, such as ensuring a stable and affordable power supply, improving security, and investing in transport infrastructure, including roads, railways, ports, and airports.

Furthermore, the expansion of social protection programs will stimulate aggregate demand, generate employment, and facilitate business growth. Collectively, these initiatives will contribute to consolidating Nigeria’s ongoing economic expansion and fostering inclusive growth.