Nigeria’s non-public sector has recorded its quickest employment development since October 2023, as enterprise exercise strengthened for the eighth consecutive month, based on the most recent Purchasing Managers’ Index (PMI) information.
The PMI, compiled by S&P Global and launched by Stanbic IBTC Bank on Friday, rose to 54.0 in July 2025, its highest stage in three months, up from 51.6 in June.
The index, which measures enterprise circumstances within the non-oil non-public sector, signifies growth when above 50.
In its report, S&P Global mentioned:
“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.”
What’s Driving the Growth?
Analysts attribute the surge in hiring to rising new orders and output, which inspired companies to develop capability. This enchancment comes as inflationary pressures confirmed indicators of easing, giving corporations respiratory house to spend money on operations.
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The report highlighted that corporations are ramping up manufacturing and staffing to satisfy rising demand, an indication that confidence within the financial system is steadily enhancing regardless of macroeconomic challenges.
Key Takeaways:
PMI rose to 54.0 in July – highest in three months.
Strongest employment development since October 2023.
Private sector growth now in its eighth consecutive month.
Hiring pushed by elevated orders and easing inflation.
Economists say if this momentum is sustained, Nigeria may see important restoration in job creation and personal sector stability within the coming quarters, at the same time as structural challenges like energy shortages and FX constraints persist.
