From Adanna Nnamani, Abuja
As part of efforts to enhance transparency and accountability, the Central Bank of Nigeria (CBN) has announced the reintroduction of several vital economic reports
The reports, including the Purchasing Managers’ Index (PMI), Business Expectation Survey (BES), and Inflation Expectation Report, will now be published regularly, according to CBN.
In a statement released on Tuesday by Hakama Ali, the Acting Director of Corporate Communications, the apex bank explained that the reports are crucial for offering stakeholders timely and accurate insights into Nigeria’s economic performance and for gaining a better understanding of the country’s economic climate.
“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.
“This initiative is part of the Bank’s broader efforts to enhance transparency, promote informed decision-making, and support economic growth.
“The reports will be periodically released on the Bank’s website (www.cbn.gov.ng), ensuring that they are easily accessible to all. The CBN encourages economists, analysts, investors, media, and the general public to use these reports to gain a more comprehensive understanding of Nigeria’s economic dynamics, thereby fostering a more inclusive economic discourse,” the statement read.