The Central Bank of Nigeria (CBN) has reintroduced the publication of several key economic reports which is an attempt to emphasize its commitment to fostering transparency and accountability in the Nigerian economy, a practice that was abandoned in 2016.
A statement signed by its Ag. Director, Corporate Communications, Hakama Ali on Tuesday, said the 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.
It said, “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.’
Finally, “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.”
