CBN Reintroduces Publication Of Key Economic Reports

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

CBN, in a statement on its official X handle and signed by its Acting Director, Corporate Communications, Sidi Ali Hakama, on Tuesday, said the initiative is part of its broader efforts to enhance transparency, promote informed decision-making, and support economic growth.

The apex bank also reaffirmed its commitment to fostering transparency and accountability in the Nigerian economy.

It further noted that the reports – 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, part of the ongoing data enhancement initiative within the CBN, 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,” the CBN said.

The statement further stated that the reports will be periodically released on the apex bank’s website, making them easily accessible to the public.

It encouraged economists, analysts, investors, media, and the public to utilise these reports for a deeper insight into Nigeria’s economic dynamics, promoting a more inclusive economic dialogue.

The most recent PMI report and business expectation survey from the CBN were issued on December 23, 2020.