According to the apex bank, the move is aimed at reaffirming its commitment to fostering transparency and accountability in the Nigerian economy.
The Central Bank of Nigeria (CBN) the apex bank in Nigeria has said it has reintroduced the publication of several key economic reports.
According to the apex bank, the move is aimed at reaffirming its commitment to fostering transparency and accountability in the Nigerian economy.
The reports impacted by this development are the; “Purchasing Managers' Index (PMI), Business Expectation Survey (BES), Inflation Expectation Report, and other macroeconomic indicators,” which the CBN expects to provide stakeholders with “timely and accurate insights into the country's economic performance.”
A statement signed by Sidi Hakama, the Acting Director of Corporate Communications at the Central Bank of Nigeria noted that the reintroduction of the reports are parts of policies aimed at engaging key policy makers in the country.
“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.”
It was further noted that the reports will be published periodically on the apex bank website.
“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.”