Manufacturing sector PMI expands by 57.7 index in April

The manufacturing sector’s Purchasing Managers Index (PMI) expanded for the 25th consecutive time by 57.7 points in April compared to 57.4 points in March.

The PMI report released on Friday by the Central Bank of Nigeria (CBN) showed that 12 of the 14 sub sectors surveyed reported growth in the review month.

These include electrical equipment; plastics and rubber products; cement; petroleum and coal products; transportation equipment; food, beverage and tobacco products; nonmetallic mineral products; chemical and pharmaceutical products; furniture and related products; textile, apparel, leather and footwear; printing and related support activities and fabricated metal products.The paper products and primary metal subsectors recorded decline in the review period.

It was revealed in the report that Production level, new orders, employment level and inventories grew at a faster rate while supplier delivery time grew at a slower rate in April 201.
The Manufacturing and Non-Manufacturing PMI Report on businesses is based on survey responses, indicating the changes in the level of business activities in the current month compared with the preceding month.

Related News

A composite PMI above 50 points indicates that the manufacturing/non-manufacturing economy is generally expanding, 50 points indicates no change and below 50 points indicates that it is generally contracting. The subsectors reporting growth are listed in the order of highest to lowest growth, while those reporting contraction are listed in the order of the highest to the lowest contraction.

Hope Moses-Ashike

Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks. She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings. Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.