Nigeria’s economy strengthened in March 2026, as the composite Purchasing Managers’ Index reached 53.2 points, the Central Bank of Nigeria reported.

The reading marks the sixteenth consecutive month of expansion in overall economic activity.

The data highlights sustained resilience across major sectors despite persistent macroeconomic challenges.

Of the 36 subsectors surveyed, 31 showed growth, reflecting broad-based improvements in business conditions and a strengthening nationwide economic recovery.

Nigeria’s major economic sectors continued to expand in March 2026, though at a slightly moderated pace, according to the PMI data.

The composite PMI rose to 53.2 points, signaling sustained growth, with 31 of 36 subsectors reporting expansion.

Gains were observed across industry, services, and agriculture, reflecting broad-based economic activity nationwide.

Growth was observed across industry, services, and agriculture, indicating broad-based economic activity.

The CBN noted a slight moderation compared with the previous month, pointing to a slower pace of expansion.

“PMI for March 2026 recorded a sustained expansion in economic activity across all surveyed sectors; however, the rate of growth moderated relative to the level recorded in the preceding month,” the apex bank noted.

The data confirms that economic activity remains in expansion territory, though underlying challenges are affecting the pace of growth.

Sectoral analysis showed industry leading the expansion, followed by agriculture and services, each exhibiting different levels of growth momentum.