PMI Sustains Momentum at 51.7 Points, Signals Broader Economic Recovery

Nume Ekeghe

Nigeria’s economic recovery gained further traction in August as the Purchasing Managers’ Index (PMI) stood at 51.7 points, remaining above the 50-point benchmark that separates expansion from contraction.

The reading, which reflects sustained growth in business activity, was driven largely by strong performances in agriculture at 53.9 points and services at 51.9 points. Both sectors are critical to employment and household income, underscoring the growing momentum in job creation and business confidence.

The PMI report showed that 22 of the 36 subsectors surveyed recorded expansions in output and new business orders during the month. This broad-based growth points to strengthening domestic demand and highlights the increasing role of the non-oil economy in supporting recovery.

The report stated: “Another indication has just emerged of a sustained improvement in Nigeria’s domestic economic prospects. 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.”

“Of the thirty-six (36) subsectors captured in PMI survey, twenty-two reported expansions in output and new business orders in August 2025. 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.”