Nigeria’s private sector growth decelerated in May 2025 as rising operating costs and falling business confidence weighed on performance, according to the latest Stanbic IBTC Purchasing Managers’ Index (PMI) report compiled by S&P Global.
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The PMI dropped to 52.7, down from 54.2 in April, signalling the slowest improvement in business conditions since January, though still indicating marginal growth above the 50.0 threshold.
Firms reported difficulty managing rising wage bills, voluntary staff exits, and delayed customer payments, leading to the first decline in employment in six months and a sharp increase in work backlogs.….KINDLY READ THE FULL STORY HERE▶
