Nigeria’s Manufacturing Index Growth 


The Central Bank of Nigeria’s (CBN) Manufacturing Purchasing Managers’ Index (PMI) stood at 61.1 index points in December, indicating an expansion in the manufacturing sector for the twenty-first consecutive months month. The index grew at a faster rate when compared to the index in the previous month.

Thirteen of the 14 sub sectors surveyed reported growth in the review month in the following order: transportation equipment; furniture & related products; printing & related support activities; textile, apparel, leather & footwear; plastics & rubber products; chemical & pharmaceutical products; food, beverage & tobacco products; non-metallic mineral products; paper products; fabricated metal products; cement; electrical equipment; and petroleum & coal products. 

However, on the downside, the primary metal sub sector recorded decline in the review period. Also, the composite PMI for the non-manufacturing sector stood at 62.3 points in December 2018, indicating expansion in the Non-manufacturing PMI for the twentieth consecutive months. On Non-Manufacturing the PMI Report states that the index grew at a faster rate when compared to that in November 2018.

All the 17 surveyed subsectors recorded growth in the following order: repair, maintenance/washing of motor vehicles; information & communication; water supply, sewage & waste management; wholesale/retail trade; professional, scientific, & technical services; accommodation & food services; arts, entertainment & recreation; electricity, gas, steam & air conditioning supply; utilities; finance & insurance; agriculture; transportation & warehousing; educational services; construction; real estate rental & leasing; management of companies; health care & social assistance.