News

PMI drops to 52.7 as firms cut jobs to curb wage costs

DailyTimesNGR DailyTimesNGR 4 June 2025 0

Private sector firms in Nigeria reduced their workforce in May 2025 for the first time in six months to cut rising wage expenses, according to the latest Stanbic IBTC Bank Nigeria Purchasing Managers’ Index (PMI) report compiled by S&P Global. The report noted that employment dipped as

Business

Nigeria’s economic recovery gains momentum as PMI rises to 52.3 in March

DailyTimesNGR DailyTimesNGR 12 April 2025 0

BY MOTOLANI OSENI Business confidence in Nigeria strengthened further in March 2025 as the Central Bank of Nigeria’s (CBN) latest Purchasing Managers’ Index (PMI) climbed to 52.3 points, up from 51.4 in February—signalling a sustained recovery in private sector activity. The new data marks the third consecutive month of expansion in business activity, reflecting rising

Business

Nigeria’s business PMI hits 54.5 points in January

DailyTimesNGR DailyTimesNGR 5 February 2024 0

By Motolani Oseni The recovery in the Nigerian private sector gathered momentum at the start of 2024, with rates of expansion in output and new orders accelerating sharply as the Purchasing Managers’ Index (PMI) rose to 54.5 points. The latest monthly PMI by Stanbic IBTC Bank showed the headline PMI rose to 54.5 in January […]

Business

PMI Nigeria Expo 2022 focuses on improving project outcomes

Ihesiulo Grace 6 November 2022 0

By Joy Obakeye The need to address lingering challenges in project management will be at the centre of discourse during the Project Management Institute (PMI) Nigeria Chapter Expo 2022. Speakers Anthony Okungbowa, Head of Service, Edo State, Precious Ajoonu, Managing Director, John Odigie Oyegun Public Service Academy, Edo State, Dr. Edmund Otaigbe, Group Head, Risk […]

Business

Manufacturing PMI drops to 42.4 index points in May-CBN

Ihesiulo Grace 31 May 2020 0

The Central Bank of Nigeria (CBN) said that the Manufacturing Purchasing Managers Index, (PMI) dropped to 42.4 index points in May, indicating contraction in the manufacturing sector for the first time after recording expansion for 36th consecutive months. According to the CBN PMI survey, “Of the 14 surveyed subsectors, only the electrical equipment sector reported […]

Business Money

PMI rises 11.2% in one month

Ihesiulo Grace 5 January 2017 0

Purchasing Managers Index (PMI) for the Nigerian manufacturing sector has shown a strong rebound from 48.8 percent in November to 50.0 percent in December; an appreciable growth rate of 3.2 percent in one month, data from the Central Bank of Nigeria (CBN) has shown.   The index update is a familiar data release at the […]