Nigeria PMI Reaches 53.2, Sustains Economic Expansion

In March 2026, Nigeria's Composite Purchasing Managers' Index (PMI) recorded a value of 53.2, according to the Central Bank of Nigeria (CBN). This figure signifies continued growth in the economy for the sixteenth consecutive month.

The PMI data reflects sustained resilience across key sectors, with 31 out of 36 subsectors surveyed indicating expansion, showcasing broad-based improvements in business conditions and strengthening economic recovery nationwide. Although the pace of growth has slightly moderated, the data confirms that economic activity remains in an expansion territory, influenced by ongoing macroeconomic challenges.

The industrial sector led the expansion, followed by agriculture and services, which exhibited varying degrees of growth momentum. The trend indicates a steady improvement in demand for products and business operations across the economy, despite persistent macroeconomic pressures.

The CBN report highlights that the index has remained above the neutral mark of 50.0 for 15 consecutive months, indicating ongoing expansion in business activity.