Private Sector Booms: Nigeria Sees Fastest Job Growth in Nearly Two Years as Economy Rebounds
Nigeria’s private sector opened Q3 2025 on a high note, recording the fastest rate of job creation since October 2023, according to the Stanbic IBTC Purchasing Managers’ Index (PMI).
The PMI jumped to 54.0 in July, up from 51.6 in June — the strongest business performance since April — reflecting surging output, rising demand, and easing inflation.
> "Firms ramped up hiring to meet project deadlines and growing customer orders," the report revealed.
Improved customer demand, supported by product innovation and better price stability, sparked a boost in purchasing activity and inventory buildup. Though raw material costs and naira depreciation kept input prices high, businesses managed to ease output price inflation and even offer discounts.
Staff wages surged — the sharpest rise in five months — as employers sought to cushion workers from rising living costs, especially transportation.
Despite slightly lower optimism compared to June’s three-year high, firms remain hopeful, driven by capital expansion and smart marketing strategies.
#NigeriaPMI #EconomicGrowth #JobCreation #PrivateSectorBoom #StanbicIBTC #BusinessOutlook #Q32025
Nigeria’s private sector opened Q3 2025 on a high note, recording the fastest rate of job creation since October 2023, according to the Stanbic IBTC Purchasing Managers’ Index (PMI).
The PMI jumped to 54.0 in July, up from 51.6 in June — the strongest business performance since April — reflecting surging output, rising demand, and easing inflation.
> "Firms ramped up hiring to meet project deadlines and growing customer orders," the report revealed.
Improved customer demand, supported by product innovation and better price stability, sparked a boost in purchasing activity and inventory buildup. Though raw material costs and naira depreciation kept input prices high, businesses managed to ease output price inflation and even offer discounts.
Staff wages surged — the sharpest rise in five months — as employers sought to cushion workers from rising living costs, especially transportation.
Despite slightly lower optimism compared to June’s three-year high, firms remain hopeful, driven by capital expansion and smart marketing strategies.
#NigeriaPMI #EconomicGrowth #JobCreation #PrivateSectorBoom #StanbicIBTC #BusinessOutlook #Q32025
Private Sector Booms: Nigeria Sees Fastest Job Growth in Nearly Two Years as Economy Rebounds
Nigeria’s private sector opened Q3 2025 on a high note, recording the fastest rate of job creation since October 2023, according to the Stanbic IBTC Purchasing Managers’ Index (PMI).
The PMI jumped to 54.0 in July, up from 51.6 in June — the strongest business performance since April — reflecting surging output, rising demand, and easing inflation.
> "Firms ramped up hiring to meet project deadlines and growing customer orders," the report revealed.
Improved customer demand, supported by product innovation and better price stability, sparked a boost in purchasing activity and inventory buildup. Though raw material costs and naira depreciation kept input prices high, businesses managed to ease output price inflation and even offer discounts.
Staff wages surged — the sharpest rise in five months — as employers sought to cushion workers from rising living costs, especially transportation.
Despite slightly lower optimism compared to June’s three-year high, firms remain hopeful, driven by capital expansion and smart marketing strategies.
#NigeriaPMI #EconomicGrowth #JobCreation #PrivateSectorBoom #StanbicIBTC #BusinessOutlook #Q32025
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