CBN reintroduces key economic reports to enhance transparency

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

According to a statement on Tuesday signed by Sidi Ali Hakama, CBN’s acting director of corporate communications, this initiative is part of its broader efforts to enhance transparency, promote informed decision-making and support economic growth.

CBN said these 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, part of the ongoing data enhancement initiative within the CB, aims to ensure that the public, policymakers, and the business community have access to essential economic indicators,” CBN said.

“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 apex bank said the reports will be periodically released on its website, making them easily accessible to the public.

CBN reaffirmed its commitment to fostering transparency and accountability in the Nigerian economy.

It urged 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 last PMI report and business expectation survey released by CBN was on December 23, 2020.