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Tag: PMI

  • CBN reports $4.6bn BOP surplus, PMI hits 57.6 points

    CBN reports $4.6bn BOP surplus, PMI hits 57.6 points

    Nigeria recorded a strong external sector rebound in the third quarter of 2025, posting an overall Balance of Payments surplus of $4.60 billion.

    This is a sharp shift from the deficit position in the preceding quarter according to data released by the Central Bank of Nigeria (CBN).

    Acting Director of Corporate Communications at the CBN, Hakama Sidi Ali (Mrs.), also announced that domestic economic activity strengthened further in December 2025, as the Composite Purchasing Managers’ Index (PMI) climbed to 57.6 index points.

    In a statement issued on Tuesday, the apex bank said, “the improvement was supported by a sustained current account surplus of $3.42 billion, supported by stronger trade performance, resilient remittance inflows, increased financial flows, and continued accretion to external reserves.”

    According to the report, the goods account recorded a surplus of $4.94 billion during the period, reflecting higher export earnings. Crude oil exports rose to $8.45 billion, while exports of refined petroleum products increased by 44 per cent to $2.29 billion. 

    The Bank noted that this trend points to “further progress in domestic refining capacity and Nigeria’s gradual transition from a net importer to a net exporter of refined petroleum products.”

    Total goods exports were recorded at $15.24 billion, while imports of refined petroleum products declined by 12.7 per cent, resulting in a stronger trade balance.

    Workers’ remittances also remained firm, with the secondary income account registering a surplus of $5.50 billion, out of which $5.24 billion came from inflows sent home by Nigerians in the diaspora.

    Developments in the financial account contributed to the positive BOP outcome, as Nigeria posted a net lending position of $0.32 billion. Foreign direct investment inflows rose to $0.72 billion, while portfolio investment inflows were put at $2.51 billion. 

    The CBN noted that these figures “reflect improved investor sentiment and continued non-resident participation in domestic financial instruments.”

    Nigeria’s external reserves also recorded a notable increase, rising to $42.77 billion as at end-September 2025, compared with $37.81 billion at end-June. The Bank stated that this development strengthened the country’s external buffers during the period under review.

    According to the CBN, the Q3 2025 Balance of Payments performance points to firmer external sector conditions, rising investor confidence, and the continuing effects of policy reforms in the foreign exchange market, monetary policy operations, and the domestic energy sector.

    In a separate update, the CBN announced that economic activity gained more traction in December 2025, as the Composite PMI remained above the 50-point expansion threshold. 

    The December 2025 PMI Survey put the Composite Index at 57.6 index points, which the Bank described as “the strongest activity momentum recorded in about five years.”

    The report indicated that major employment-generating sectors sustained expansion during the month. Sectoral PMI readings showed agriculture at 58.5 points, industry at 57.0 points, while the services sector recorded 51.9 points, signaling broad-based growth in business output.

    The Survey further revealed that 32 out of the 36 subsectors monitored recorded expansion in production levels, new business orders and employment. According to the Bank, the outcome reflects a steady recovery in domestic demand and rising productive activity, particularly within the non-oil economy.

    The CBN attributed the improved PMI readings to the impact of ongoing macroeconomic stabilisation measures and efforts to support the operating environment and business confidence. 

    It said these interventions continued to “bolster job creation, production efficiency, and overall optimism about economic prospects in the fourth quarter of 2025.”

    The December PMI reading, the Bank added, strengthens expectations of a stable growth outlook as Nigeria moves into the new year.

  • PMI: 97% of agencies face creative campaign challenges

    PMI: 97% of agencies face creative campaign challenges

    A new survey from Project Management Institute (PMI)) has highlighted that 97per cent of agencies face mounting pressure to deliver bold, fresh experiences that boost brand awareness and keep customers engaged in an increasingly saturated market.

    The online survey was commissioned by the Project Management Institute (PMI), but was conducted by PSB Insights from April 28 to May 6, 2025, among creative campaign professionals in the United States working at an advertising, marketing, creative, PR agency, or in-house agency/department.

    In a statement released by PMI at the ongoing Cannes Lions International Festival of Creativity 2025, the institute said, “PMI highlights that 97per cent of respondents faced at least one major campaign challenge in the last year, including: going over budget – 55per cent, overdue deadlines – 54per cent, and constraints on creativity – 47per cent.”

    The survey, conducted among 130 U.S. marketing and advertising agency professionals, also found that a third of campaigns – 34per cent do not resonate with their target audience or generate new leads – 35per cent.

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    Speaking on the survey, Chief Marketing Officer at PMI, Menaka Gopinath, said: “In a tough marketing climate, with rising demands, tighter budgets, and shorter timelines, the execution side of creativity has never been more critical. The survey reveals that 10 (90per cent) creative professionals agree: “Great creative campaigns do not happen without great project management.”

    Creative leaders also say project management professionals: allow the organisation’s leaders to focus on driving growth (52per cent), ensure campaigns contribute positively to the brand over time (52per cent), get all the different parts of the campaign working together (50per cent), manage increasingly complex campaigns (45per cent) and ensure campaigns are long-lasting (45per cent)

    By keeping teams aligned, stakeholders engaged, timelines on track, and encouraging creative momentum, project management helps strong ideas grow into powerful brand activations, Gopinath stated.

    “Today’s CMOs are juggling more platforms, priorities, and pressure than ever before—and it’s easy for even the strongest campaigns to lose focus and veer off-track. Effective project management provides the structure and clarity creative teams need to drive momentum, work collaboratively, and deliver results that align with business goals. By bringing order to complexity, project management empowers marketing leaders to stay focused on strategy and turn complexity into opportunity,” she added.

    According to the President and CEO of PMI, Pierre Le Manh,  marketing matters more than ever, but it also has to perform, in spite of its increasing complexity.

    “Every dollar must drive measurable impact, and every great idea must scale. That’s where project professionals become a force multiplier. They don’t constrain creativity, they operationalise it. They fight waste, play an essential role in managing complex assets, teams, cultures, tech stacks – and turn ideas into results. Ultimately, they drive more execution efficiency and speed, which translates into more profit for both agencies and clients,” PMI CEO added.

  • PMI preaches soft skills as AI redefines jobs

    PMI preaches soft skills as AI redefines jobs

    • By Motunrayo Akintunde

    The Managing Director, Project Management Institute (PMI), Sub-Saharan Africa, George Asamani, has stressed the importance of mastering technical skills as Artificial Intelligence (AI) continues to redefine job roles.

    In a statement at the weekend, Asamani said as AI integrates into the workplace and redefines job roles, young professionals find themselves at a pivotal crossroads. On one side lies the immense potential of AI to drive innovation and professional growth. On the other, the challenge of preserving irreplaceable human attributes, creativity, empathy, and critical thinking, remains critical to maintaining our unique value in an increasingly automated world.

    He said: “Success in this evolving landscape requires mastering technical skills while simultaneously cultivating soft skills that foster collaboration, agility, and ethical decision-making.

     “It is clear that learning extends far beyond formal schooling. Yet, for many young professionals, the transition from academia to the workplace often marks the end of structured education. The demands of starting a career, coupled with the pressure to perform, can make continuous learning a lower priority. This mindset must shift, as adapting to change requires a commitment to lifelong learning.”

    Employers, learning and development managers are at the forefront of creating cultures where lifelong learning thrives. In project management—a field where AI is transforming how decisions are made, and projects are delivered—continuous upskilling is no longer optional; it is essential. By equipping teams with both technical expertise and human-centric skills, organisations can ensure their professionals are future-ready.

     “Amid AI’s growing dominance, soft or power skills remain the cornerstone of human agency. While machines excel in data processing, pattern recognition, and predictive analytics, they cannot replicate emotional intelligence, creativity, or the nuanced decision-making required in complex human interactions. Employers increasingly recognise the value of these uniquely human traits, which are vital to navigating ambiguity and fostering innovation,” he said.

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    He stressed that the challenge is not only to integrate AI into workplaces but also to ensure that human capabilities remain central to project and organisational success.

     “Organisations play a pivotal role in striking this balance. Pairing seasoned professionals with new project managers through mentoring fosters mutual growth, enabling the transfer of knowledge, skills, and fresh inter-generational perspectives,” he stressed.

    While experienced professionals share insights on power skills and organisational nuances, younger professionals can offer innovative approaches to technology adoption. PMI’s Chapters provide a valuable platform for facilitating these connections, offering opportunities for collaboration, networking, and professional growth within a supportive community.

    Membership in professional organisations provides a sense of belonging and fosters the exchange of ideas. These platforms emphasise collective growth over individual achievement, nurturing a spirit of collaboration that ensures learning remains a shared priority.

    Asmani said: “As an organisation, we are leading the charge in equipping professionals with cutting-edge AI capabilities. Through significant investments in AI-powered tools and platforms, PMI is empowering professionals to adapt to the rapidly evolving technological landscape. Members benefit from free AI-focused courseware that equips them with the skills needed to integrate AI into their workflows. PMI’s acquisition of Cognilytics further demonstrates its commitment to helping project managers stay ahead of the curve and thrive in an AI-driven world.

     “As technology becomes omnipresent, individuals must also take personal responsibility for preserving their human legacy. This means not only adapting to change but actively shaping it. Viewing challenges as opportunities for growth fosters resilience and adaptability. Platforms like Coursera, LinkedIn Learning, and PMI certifications provide accessible resources for continuous learning. By committing to consistent growth, young professionals can ensure they remain relevant in an ever-evolving job market.

     “A balanced approach to technology and soft skills is key. By embracing both innovation and human values, today’s youth can secure their place in the future of work—one where automation enhances, rather than diminishes, human potential, and innovation thrives alongside empathy.”

  • PMI to showcase at NOG Energy Week

    PMI to showcase at NOG Energy Week

    Project Management Institute (PMI), the leading authority in project management committed to advancing the profession, is set to showcase its globally renowned certifications at the NOG Energy Week.

    Among the certifications to be highlighted are the gold standard, Project Management Professional (PMP®), and the PMI Construction Professional (PMI-CP®), which can be pivotal in enhancing the skills and career prospects of professionals in the oil, gas, and energy sectors.

    “Project management is the cornerstone of success in managing the complexities of the oil & gas sector. With projects becoming increasingly ambitious, our globally recognised certifications ensure that project managers are equipped to meet the challenges of tomorrow, today, guiding projects from conception through completion with efficiency,” says George Asamani, MD, Sub Saharan Africa, PMI.

    Geopolitical dynamics, macroeconomic trends, stricter policies and regulations, and the introduction of new technologies continue to shape the energy landscape. Against this backdrop, hiring certified project managers should be a strategic imperative for the sector. Their expertise spans critical areas such as strategic decision-making, risk management, and adaptability to change, all of which are indispensable to the sector.

    Read Also: PMI report: growth dips on subdued demand, price pressure

    Studies consistently show that PMP certification holders earn higher median salaries than those without PMP certification, 33% higher on average across the 21 countries surveyed in the 13th Earning Power: Project Management Salary Survey. PMP-certified project professionals in Nigeria demonstrated an even greater lift, reporting an increase of 60% in median salary compared to their non-certified peers.

    “Our research of project management professionals in the construction sector found that 70% of projects experience scope creep, and 73% were over budget.  The PMI-Construction Professional (PMI-CP) certification was designed to help construction professionals improve margins in the industry often plagued by cost overruns and project delays and is our first industry-specific solution.

    Individuals keen to pursue the PMI-CP certification need three years of on-the-job experience (within the last ten years) in construction or built environment projects. To become PMI-CP certified, they must complete four foundational eLearning courses, Construction Contract and Risk Management, Construction Project Communications, Construction Interface Management, and Construction Scope and Change Order Management, and pass the capstone exam.

  • PMI: Goods’ prices surge dampened demand in February

    PMI: Goods’ prices surge dampened demand in February

    Price pressures intensified in the private sector last month and were unprecedented in over a decade of data collection leading to surge in prices of goods and services and lower demand, Purchasing Managers’ Index (PMI) for February has shown.

    According to the report, both input costs and output prices increased at the sharpest rates on record, with rising prices impacting demand.

     “As a result, rates of expansion in output and new orders slowed sharply over the month, while employment decreased for the first time in 10 months. Meanwhile, business confidence dropped to the lowest on record. The headline figure is derived from PMI’s survey. Readings above 50 signal an improvement in business conditions on the previous month, while readings below 50 show a deterioration,” the report said.

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    The headline PMI dropped markedly in February to 51.0 from 54.5 in January, remaining above the 50 no-change mark for the third month running but only just.The improvement in business conditions was the weakest since the recovery in the private sector began last December.

    Continuing, the report said: “Input costs surged higher in February, often as a result of exchange rate weakness, which drove up material costs, but also higher fuel prices. The latest rise in overall input costs was by far the sharpest since the survey began in January 2014, with around 78 per cent of respondents signalling an increase over the month.”

    Similarly, output price inflation also hit a fresh record high in February as firms passed through rising input costs to their customers.

    Steep price pressures acted to limit new orders in the private sector. Although new business increased for the third successive month amid some positive signs for underlying demand, the rate of expansion slowed sharply and was the weakest in this sequence.

  • PMI: New orders fall despite rise in input costs

    PMI: New orders fall despite rise in input costs

    The Nigerian private  sector dipped into contraction in October as a record increase in input costs impacted customer demand, Purchasing Managers’ Index (PMI) for the month has shown. 

    The report showed that sharply rising prices also discouraged firms from purchasing inputs and caused delays in the completion of orders. 

    However, on a more positive note, employment continued to rise amid company expansion plans.

    The headline figure derived from the survey is the PMI. Readings above 50.0 signal an improvement  in business conditions on the previous month, while readings below 50.0 show a deterioration.

    Also, the headline PMI dropped below the 50.0 no-change mark for the first time in seven months in October, thereby signaling a deterioration in business conditions in the private sector. At 49.1, the index was down from September’s reading of 51.1 and signaled a slight worsening of operating conditions.

    Central to the challenges for firms in October was the sharpest rise in overall input prices since the survey began almost a decade ago. Purchase costs were up rapidly, largely due to currency weakness but also the lingering impacts of the removal of the fuel subsidy.

    Meanwhile, the extent of the rise in living costs, particularly those related to transportation, led companies to increase their staff pay markedly in October. Moreover, the rate of inflation hit a new survey peak.

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    With input costs rising rapidly, firms in Nigeria increased their own selling prices accordingly. The pace of inflation quickened from September and was one of the sharpest on record.

    The steep inflationary environment acted to depress customer demand in October. New business decreased at a solid pace, thereby ending a six-month sequence of growth.

    Also, lower new orders and high prices for inputs led companies to reduce their purchasing activity for the first time in seven months. In some cases an inability to secure inputs led to delays in the completion of projects. 

    “Elsewhere, customers had missed payments. As a result, backlogs of work increased for the second month running, and to the largest extent since February. The build-up of outstanding business was signaled despite a further rise in employment.Staffing levels were up for the sixth month in a row, and at a solid pace. 

    According to respondents, job creation often reflected business expansion plans. Hopes to expand operations and open new branches meanwhile helped to support optimism in the year-ahead outlook for output, although sentiment remained historically muted.

    Finally, suppliers’ delivery times shortened again in October, with improved vendor performance linked to competition among suppliers, prompt payments and relatively quiet road conditions,” the report said.

  • PMI to equip youths for devt

    PMI to equip youths for devt

    United States-based not-for-profit professional organization, Project Management Institute (PMI) has restated its commitment to equipping Nigerian youth with the knowledge, skills, and tools needed to not only embrace change but also to be its drivers.

    Managing Director, Sub Saharan Africa, PMI, George Asamani, who gave the commitment during the announcement of three Nigerians and three others on its honors list, said youths are the architects of the future.

    PMI is a professional organisation for project management and the authority for a growing global community of millions of project professionals with a place on the prestigious Future50 list.

    On the list are Senior Education Specialist, World Bank, Aisha Garba, Director and Principal Architect, cmDesign Atelier, Tosin Oshinowo, and Senior Project Manager, IT Programs and Portfolio Management, Union Bank of Nigeria, John Ndubuisi, were recognised by PMI for their efforts at reshaping the future through projects. The list also features three other Africans Kathleen Siminyu from Kenya, Manuel Praia from Angola, and Abdalah Maiguizo from Niger.

    Congratulating the F50s, Asamani, said: “We remain committed to equipping the youth with the knowledge, skills, and tools needed to not only embrace change but also to be the drivers of it. Your achievements today are a testament to Africa’s incredible talent and potential.

    “You are the architects of the future, and your vision and determination will undoubtedly lead us to new heights and amplify the community’s impact.”

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    The list featured 50 outstanding rising leaders transforming the world and represents a new cohort of project professionals driving transformation across all PMI regions and industries.

    In the world today, global megatrends such as digital disruption, demographic shifts, and the climate crisis are driving the future of business and society. At the same time, the global economy needs 25 million new project professionals by 2030. The 2023 Future 50 honourees collectively set an example and lead the charge in problem-solving while creating a better world through projects.

    Adolescent girls in Nigeria face myriad obstacles to completing secondary education, from pervasive poverty to poor infrastructure to forced early marriage. Aisha is helping to eradicate such barriers and paving the way to increased economic opportunities that would benefit all of Nigeria. A senior education officer at the World Bank, Garba leads the 10-person team behind the Adolescent Girls Initiative for Learning and Empowerment (AGILE) Project, a five-year program launched in 2020.

    The program’s ambitious portfolio includes projects to build and rehabilitate schools, improve safety conditions in and around schools, deliver health and nutrition information (including reproductive and menstrual hygiene), and create cash-transfer programs to incentivise households to send girls to school.

    Ms. Oshinowo’s latest project, designing a new village for Nigerians displaced by violent insurgents, earned her a place on the coveted list. After Boko Haram launched a brutal attack on Ngarannam, Nigeria, in 2015, many of the residents who fled spent years in refugee camps. Oshinowo worked to provide a new path forward, delivering on the studio’s mission to “create contemporary solutions that constantly push the boundaries of architecture in Nigeria and the African continent.”

    Over the past decade, Ndubuisi has had a front-row seat to Nigeria’s booming fintech revolution. In a time of such staggering change, he knows the value of being ready to pivot and clearly communicating the rationale for the shift. After startup Titan Trust Bank acquired century-old Union Bank in 2022, Ndubuisi was tapped to lead a project to merge capabilities and help ensure the company doesn’t get left behind as the industry hurtles toward its fintech future. One standout effort: building a team that could iterate its way to a shared banking app.

  • PMI sees South African factory activity down

    South Africa’s manufacturing sector got off to a poor start in the fourth quarter as an index tracking factory activity fell to a 15-month low in October.

    The purchasing managers’ index compiled by the Stellenbosch-based Bureau for Economic Research for Absa Group Ltd. declined to 42.4 from a revised 44.5 in September the Johannesburg-based lender said in emailed statement. The reading has been below 50 for eight months, indicating contraction in the factory sector.

    A key reason behind the drop in the PMI is the decline in the new-sales orders index to 39, the lowest level since July last year, Absa and the BER said. Purchasing managers also turned more pessimistic about business conditions going forward as the index tracking expected business conditions in six months’ time slumped to 41.7, the lowest level since January 2016.

  • Crisis rocks Imo PDP over alleged alteration of delegate list

    The alleged plan to alter the delegate list of the Imo State chapter of the People’s Democratic Party (PDP) ahead the primaries has thrown the party into turmoil.

    A pressure group within the party, PDP Mandate Initiative, (PMI) has kicked against plot, expressing worry that similar acts of impunity destroyed the party in the past.

    The group, while addressing newsmen in Owerri, Monday, described the attempt as “undemocratic, unconstitutional, anti-party and clearly damaging”.

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    In a statement signed by the Chairman, Chief Luke Udo Anujiofor, Secretary, Dr. Peter Claver Akpataku, and PRO Mr. Azuchiekuta Udodinma, the group alleged that an unnamed governorship aspirant was behind the plot.

    It alleged further that ” a governorship aspirant and his cohorts are  involved in the ridiculous and unconstitutional practice of impunity, imposition and hijack of the process of three-man Ad-hoc delegates’ Congress, scheduled to hold across the 305 Wards in 27 Local Government Areas (LGA) of Imo State on the Friday, 8th of September”.

    It continued that “as part of this group’s inimical plot is its resolve to the claims that some LGA’s delegates list have been ceded to it, hence, there cannot be any delegate election in those Local Councils”.

    According to the statement, “we equally condemn in totality, the statement credited to Chief Emmanuel Iwuanyanwu, at a PDP leadership meeting of Ikeduru LGA, that the appointed delegates list, drawn by Senator Anyanwu will be adopted and used as the authentic delegates without voting or election. We view this sad development as the height of impunity, intimidation and suppression.

    “This is the same practice that nearly destroyed our party in the past. This is in gross violation to the PDP’s Constitution (as amended in 2017), which provides in Chapter 8, Section 50 (8)”.

    It continued that, “the position of our party’s Constitution is express on this issue and we call on the National Working Committee State Working Committee (SWC) to beam their searchlight to avert a looming crisis that could jeopardize the peace and stability our party has enjoyed since the recent past. Our party must hastily nip in the bud, any desperate act by any individual or group to undermine our chances at the 2019 general election.

    “More worrisome is the allegation that the Senator has been making frantic efforts to alter Imo State PDP statutory delegates list at the PDP National Headquarters, and replace them with strange names that will do his bidding during the primary election. This allegation is indeed unfortunate, unacceptable and must be investigated by the party”.

  • CBN’s PMI shows manufacturing expanding

    The Manufacturing Purchasing Managers’ Index Survey conducted by the Central Bank of Nigeria (CBN) has shown  56.8 index points, indicating expansion in the manufacturing sector for the 16th consecutive month.

    The index, which was for last month however grew  at  a slower rate  when  compared  to the  indexin  the  previous  month.  Of  the 14 subsectors surveyed,  13 reported growth in the review  month  in  the  following  order: petroleum & coal products, printing and related     support     activities, paper  products electrical equipment, primary   metal, furniture   and   related products. Others are nonmetallic mineral products, transportation  equipment, textile,  apparel,  leather  and  footwear, chemical  and  pharmaceutical  products, food,  beverage/tobacco  products, cement and fabricated metal products.

    The plastics and    rubber products subsector declined   in   the review month. At 59.0 points, the production  level index   for the manufacturing sector grewfor  the 17th consecutive month in July 2018.

    The index indicated a slower   growthin   the current month, when compared  to itslevel  in  the  preceding month. Twelve of   the 14 manufacturing sub sectors recorded increase  in production level, while  two remained  unchanged.

    At 55.8 points, the new  orders  index grew   for  the sixteenth consecutive month,   indicating   increase   in   new orders in July 2018. Twelve subsectors reported growth, while two contracted in  the  review  month.

    The manufacturing supplier delivery time index stoodat 56.8 points in July 2018, indicating faster supplier delivery    time    for the 14th consecutive month. Nine subsectors recorded improved suppliers’ delivery time, three  remained  unchanged while two contracted.