Install NGINX

sudo yum install nginx -y

Install PHP and PHP-FPM

sudo yum install php -y

sudo yum install php-fpm -y

Configure NGINX (see below)

sudo nano /etc/nginx/conf.d/default.conf

server {
    listen 80;
    server_name www.exampledomain.tld exampledomain.tld;

    location / {
        root   /var/www/html;
        index  index.php index.html index.htm;
    }

    location ~ \.php$ {
        root /var/www/html;
        fastcgi_pass   unix:/var/run/php-fpm/php-fpm.sock;
        fastcgi_index  index.php;
        fastcgi_param  SCRIPT_FILENAME  $document_root$fastcgi_script_name;
        include        fastcgi_params;
    }
}

Configure PHP-FPM (see below)

sudo nano /etc/php-fpm.d/www.conf

Comment the following entries (with ;)
;listen = 127.0.0.1:9000
;listen.owner = nobody
;listen.group = nobody
;listen.mode = 0666
;user = apache
;group = apache

# Add the following values instead
listen = /var/run/php-fpm/php-fpm.sock
listen.owner = nginx
listen.group = nginx
listen.mode = 0664
user = nginx
group = nginx

Add NGINX and PHP-FPM service start to boot sequence

sudo chkconfig nginx on

sudo chkconfig php-fpm on

Start NGINX and PHP-FPM service

sudo service nginx start

sudo service php-fpm start

Add test.php to /var/www/html

<?php phpinfo();?>

Verify configuration via http://www.exampledomain.tld/test.php