PMI Report Indicates Contraction In 70% Of Economic Subsectors         Central Bank of Nigeria (CBN) said that 70 percent of the sub-sectors surveyed for its monthly Purchasing Managers Index (PMI) experienced contraction in December. The report showed that out of 31 sub-sectors surveyed, 22 recorded contraction while...

2021 Economy Outlook And CBN’s Solutions         The year 2021 is literally here. Suddenly it has become the year for a magic which was initially expected for 2020, but which disappointed due, obviously, to the public health crises of COVID-19 that practically pressured all economies, including...

Air Cargo Traffic Records Slow Growth, Rebound         The International Air Transport Association (IATA) has released October data for global air freight markets showing that air cargo demand continues to improve but at a slower pace than the previous month and remains below previous year levels. Global...

Manufacturing Sector Recovers After Six-month Contraction         The nation’s manufacturing sector has snapped out of the doldrums after contracting for six straight months, a new survey by the Central Bank of Nigeria has shown. The CBN, in its latest Purchasing Managers’ Index Survey Report, said the manufacturing...

Manufacturing Sector Hits Sixth-month Slow Growth         The Purchasing Managers Index for the manufacturing sector which started contracting in May recorded another contraction in October according to the Central Bank of Nigeria. The statistics department of the CBN disclosed in its ‘Purchasing Managers’ Index survey report for...

Nigeria’s Sept Oil Production Dropped By 1.74m Barrels – OPEC         Crude oil production in Nigeria dropped by 1.74 million barrels in September, figures from the just released oil market report of the Organisation of Petroleum Exporting Countries showed. In the OPEC report, dated October 13, the...