CBN re-introduces publication of key economic reports

The Central Bank of Nigeria, CBN, has reintroduced the publication of several key economic reports.

The apex bank in a statement on Tuesday by Mrs Sidi Ali Hakama, Ag. Director, Corporate Communications, said the development reaffirms its commitment to fostering transparency and accountability in the Nigerian economy.

According to the statement, those reports, including the Purchasing Managers’ Index (PMI), Business Expectation Survey (BES), Inflation Expectation Report, and other macroeconomic indicators, will provide stakeholders with timely and accurate insights into the country’s economic performance.

“The reintroduction of these reports forms part of the ongoing data enhancement initiative within the CBN, which aims to ensure that the public, policymakers, and the business community have access to essential economic indicators.

The PMI, which assesses the health of the manufacturing, services, and agricultural sectors, along with the business and household expectations reports, are crucial tools for understanding Nigeria’s economic climate.

“These reports offer valuable insights into the perceptions and outlooks within the business and household sectors, respectively. This initiative is part of the Bank’s broader efforts to enhance transparency, promote informed decision-making, and support economic growth,” the statement partly read.

Hamaka further said the reports will be periodically released on the Bank’s website to ensure that they are easily accessible to all while encouraging economists, analysts, investors, media, and the general public to use the reports to gain a more comprehensive understanding of Nigeria’s economic dynamics.