Nigeria re-introduces key economic reports to foster transparency

The Central Bank of Nigeria (CBN) has restarted the publication of several important economic reports in a bid to boost transparency in Nigeria's economy.

The bank said it would periodically release the Purchasing Managers' Index (PMI), Business Expectation Survey (BES), Inflation Expectation Report and other macroeconomic indicators on its website.

These reports provide crucial insights into sectors like manufacturing, services and agriculture via the PMI.

It also offers a view into business and household sentiments through expectations surveys.

"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," read part of a statement signed by Sidi Ali Hakama, Ag. Director of Corporate Communications at CBN.

It added that the reports are "crucial tools for understanding Nigeria's economic climate" as they provide "valuable insights into the perceptions and outlooks within the business and household sectors."

"This initiative is part of the Bank's broader efforts to enhance transparency, promote informed decision-making, and support economic growth," the statement further noted.