Economic Activity Expands for 5th Consecutive Month as PMI Rises To 53.2

Nigeria’s economic activity sustained its expansion for the fifth consecutive month in October 2026, as improved performance in the industrial and agricultural sectors outweighed a marginal slowdown in the services sector.
The Central Bank of Nigeria’s (CBN) October 2026 Purchasing Managers’ Index (PMI) report showed that the Composite PMI increased to 53.2 points from 53.0 points in September, indicating a modest strengthening in the pace of economic activity.
The latest reading reflects continued improvement in business activities across the three major sectors of the economy, with agriculture maintaining its position as the best-performing sector. According to the report, 24 of the...