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 firms struggled with staff costs and increased voluntary […]
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 […]
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 […]
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 […]
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 […]
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 […]