Nigeria's economy expanded for the fifth consecutive month in April 2025, with the agricultural sector driving much of the growth, according to the Central Bank of Nigeria's (CBN) Purchasing Managers Index (PMI) report.
The composite PMI for the month stood at 52.2 index points, signaling positive momentum across key sectors.The agricultural sector posted the highest expansion, with 53.8 index points, marking its ninth consecutive month of growth.
This expansion was primarily driven by increased new orders. Other sectors also saw growth, with the industry sector expanding for the fourth consecutive month, supported by higher outputs, and the services sector benefiting from a rise in incoming business.
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The PMI breakdown revealed that 22 of the 36 subsectors across agriculture, industry, and services reported growth, with transportation equipment seeing the most significant increase. However, 14 subsectors, including paper products, experienced a decline in economic activities.
While economic activity is expanding, businesses are facing pressure on their margins as input costs are rising faster than output prices, posing challenges to sustained growth. Despite these pressures, the report offers a positive outlook for the second quarter of 2025, supported by continued growth in major sectors.
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