Nigeria’s composite Purchasing Managers’ Index (PMI) rose to 53.0 points in September 2026, marking the fourth subsequent month of expansion in complete economic effort.
This is according to the Central Bank of Nigeria (CBN).
The composite PMI increased from 52.7 points in August, together with Field, Services and Agriculture all recording expansion during the evaluation month.
The September reading was supported by growth in output, novel orders, employment and raw substance inventories, whilst supplier delivery times too improved.
Composite PMI reaches 53.0 points
The CBN said the September composite PMI indicated continued expansion across the economy, using Recent Orders recording the strongest month-on-month improvement amid the significant components.
- The Output Index stood at 53.9 points, during the time that Fresh Orders and Employment indices recorded 53.7 and 51.5 points respectively.
- The Stock of Raw Materials Index expanded at 52.1 points, whilst the Suppliers’ Delivery Time Index stood at 52.7 points, indicating improved supplier reply times.
- Twenty-three subsectors recorded expansion during the month, together with Instructional Services reporting the strongest growth.
- Nine subsectors contracted, alongside Chemical & Pharmaceutical Products recording the steepest decline.
The extensive-based expansion across the three significant sectors kept the composite PMI above the 50-thought threshold that separates expansion from contraction.
Sector PMI strengthens in September
The Sector PMI rose to 52.0 points in September from 50.6 points in August, marking a second consecutive month of expansion in industrial duty.
- The Promote Output Index increased to 53.2 points, supported by Recent Orders at 51.7 points and Employment at 51.1 points.
- The Raw Materials Inventory Index returned to expansion at 51.1 points, compared including 49.4 points in August.
- The Suppliers’ Delivery Time Index stood at 52.7 points, indicating improved furnish chain efficiency and faster supplier delivery times.
Ten of the 16 industrial subsectors recorded expansion, including Water Grant, Sewerage & Waste Administration posting the strongest growth.
Six industrial subsectors contracted during the month, alongside Chemical & Pharmaceutical Products recording the steepest decline.
Services sustain three-month expansion
The Services PMI stood at 53.2 points in September, broadly unchanged from 53.3 points in August and marking a third endorse-to-support month of expansion in services assignment.
- Nine of the 11 services subsectors surveyed recorded expansion in September.
- Learning Services posted the strongest expansion within the services subsectors.
- Experienced, Scientific & Specialized Services recorded the highest contraction.
The Services sector consequently maintained the expansionary trend that began in July, despite the marginal decline from its August reading.
Agriculture expands for 26th month
The Agriculture PMI declined slightly to 53.1 points in September from 53.4 points in August but remained above the 50-aspect threshold for the 26th endorse-to-endorse month.
- Four of the five agricultural subsectors recorded growth, including Livestock posting the strongest expansion.
- Agricultural Support Services was the just subsector to contract during the critique month.
- Comprehensive Farming Activities, Novel Orders, Employment and Inventories remained in expansion territory at 54.6, 54.4, 51.4 and 52.1 points respectively.
The CBN moreover reported assorted outlay movements during September, alongside the composite contribution rate index rising by 0.8 points whereas the output charge index declined by 0.5 points.
Information prices increased faster than output prices in both the Services and Agriculture sectors during the month.
Source: Nigeria’s composite PMI rises to 53.0 in September, marks fourth month of expansion
