Nigeria Records Strongest Employment Growth In 3 Months: Nairametrics
Nigeria’s private sector witnessed its strongest employment growth since October 2023 as the Purchasing Managers’ Index (PMI) rose to 54.0 in July 2025, its highest in three months.
The PMI, compiled by S&P Global and released by Stanbic IBTC Bank on Friday, reflects a solid improvement in business conditions across the non-oil private sector, marking the eighth consecutive month of expansion.
The report read, “The headline figure derived from the survey is the Purchasing Managers’ Index™ (PMI®). Readings above 50.0 signal an improvement in business conditions on the previous month, while readings below 50.0 show a deterioration.
“The headline PMI rose to a three-month high of 54.0 in July, up from 51.6 in June. The reading signalled a solid monthly improvement in the health of the private sector, extending the current sequence of expansion to eight months.”
According to the report, the surge in hiring was driven by faster increases in new orders and output, as firms ramped up capacity to meet rising demand while benefiting from a softening in inflationary pressures.
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