CBN Resumes Publication of Key Economic Reports

James Emejo in Abuja

The Central Bank of Nigeria (CBN) yesterday said it has reintroduced the publication of several key economic reports which were hitherto discontinued.

In a statement, CBN acting Director, Corporate Communications Department, Mrs. Hakama Sidi Ali, said the resumption of publication reaffirmed the bank’s commitment to fostering transparency and accountability in the Nigerian economy.

She stated that reports including the Purchasing Managers’ Index (PMI), Business Expectation Survey (BES), Inflation Expectation Report, and other macroeconomic indicators, would provide stakeholders with timely and accurate insights into the country’s economic performance.

The central bank further said the reintroduction of these reports, which is part of the ongoing data enhancement initiative within the CBN, aimed 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 the country’s economic climate.

These reports offer valuable insights into the perceptions and outlooks within the business and household sectors, respectively.

Sidi-Ali pointed out that the initiative remained part of the bank’s broader efforts to enhance transparency, promote informed decision-making, and support economic growth.

She said the reports would be periodically released on the CBN’s website, 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,” she added.