Agriculture Drives Nigeria’s Economic Growth in November — CBN

News in Brief

-Nigeria’s agriculture sector posted its strongest expansion in November 2025, with a PMI of 58.2 points and all subsectors showing growth, led by forestry and general farming.

-The sector’s continued growth has contributed over 22% to GDP, driven by government support, improved farming practices, and increased production of key crops.

Agriculture has continued to drive Nigeria’s economic expansion, with the sector recording the strongest performance among all sectors in November 2025, according to the latest Purchasing Managers’ Index (PMI) report from the Central Bank of Nigeria (CBN). 

The sector’s PMI rose to 58.2 points, marking 16 consecutive months of expansion and solidifying its role as the leading contributor to national growth.

Agriculture Leads Growth Momentum

The November 2025 PMI data highlights that all five subsectors within agriculture expanded, with forestry showing the highest growth rate. Key indicators, including general farming activity, new orders, employment, and raw materials inventory, all posted strong increases, with indices at 61.4, 59.5, 55.6, and 56.3 points, respectively. This sustained momentum is attributed to improved input supply, mechanisation, and expanded cultivated areas, which have collectively boosted the production of major crops, including rice, maize, sorghum, millet, cowpea, yam, and cassava.

Broader Economic Impact

Agriculture’s growth has not only increased output but also contributed significantly to Nigeria’s GDP, accounting for over 22% of the primary sector and up to 35% when the entire value chain is considered. 

Government interventions, including increased budgetary allocations and targeted support programmes such as the National Agricultural Development Fund, fertiliser donations, and other targeted interventions, have played a crucial role in sustaining this progress. The sector’s expansion has also led to a noticeable drop in food prices across the country, benefiting consumers and supporting broader economic stability

Sectoral Comparisons

The composite PMI for the entire economy reached 56.4 points, up from 55.4 in October. It marks the twelfth consecutive month of growth, reflecting a robust outlook for Q4 2025. A deeper look into the composite PMI revealed that 29 out of the 36 subsectors surveyed recorded expansion, making November the strongest month of expansion so far in 2025.

CBN’s Disclaimer on PMI insights

While presenting the data, the CBN reiterated its standard disclaimer, noting that the PMI reflects the views of survey respondents and does not represent the official position of the Central Bank. The Bank emphasises that it cannot be held liable for decisions taken based on the survey responses.