Sourced news brief · Source report: 2026-10-02
Nigeria’s composite Purchasing Managers’ Index rose to 53.0 in September from 52.7 in August, according to a Central Bank of Nigeria report covered by Nairametrics.
The reading marks a fourth consecutive month above the 50-point threshold separating expansion from contraction in the survey. Industry, services and agriculture all remained in expansion territory.
The report recorded improvement in output, new orders, employment and inventories. It also showed that nine subsectors contracted, so the positive overall reading did not mean every part of the economy was growing.
PMI is a survey indicator of changing business conditions, rather than a direct measure of household income or the GDP growth rate. For readers assessing the economy, the important distinction is between an improvement in the direction of business activity and a broad improvement in everyday purchasing power.
Source: Nairametrics — original report. This is an original Aoedus summary of the linked reporting.
Source file image. Image credit/source: Nairametrics.
