April 4, 2024/CSL Research The Nigerian Manufacturing Purchasing Managers Index (PMI) gauges the activity level of purchasing managers in the manufacturing sector. A reading above 50 signals expansion, while below 50 indicates contraction. The March 2024 PMI remained steady at 51.0, mirroring February’s level and indicating consistent business activity. However, […]
OPINION/EDITORIAL
Monetary Aggregates Grow Despite CBN’s Policy Tightness
April 3, 2024/FBNQuest Research The Central Bank of Nigeria’s (CBN) latest data on monetary aggregates shows that domestic credit to the private sector almost doubled y/y to NGN80.7trn in Feb ‘24. This growth marks the fastest credit extension to the private sector in recent months. On a m/m basis, PSCE […]
Nigeria’s Infrastructure Stock Falls Below International Best Practices
April 3, 2024/FBNQuest Research Nigeria’s infrastructure stock falls below the internationally recognised benchmark of 70% of GDP, as set by the World Bank. The infrastructure deficit undermines the country’s economic competitiveness, contributing to higher levels of unemployment and inflation. Notably, transportation infrastructure stands out as one of the sectors most adversely affected by the deficit. Given the deficit […]
