A recent Central Bank of Nigeria report found that business owners are hopeful that the business environment in Nigeria will improve in August 2024 and the ensuing six months.
The apex bank’s Business Expectations report, which was made public on Wednesday, states that company owners anticipate improved business performance in August, with an optimism score of 7.6 points.
The apex bank stated that the business optimism index is expected to be 19.3 points in the next three months and 30.7 points in the following six months, The Punch reported.
It clarified that the macroeconomic outlook will be bolstered by the following industries: manufacturing, non-market services, agriculture, market services, energy, gas & water supply, mining, and quarrying.
It stated,
In July 2024, the overall confidence index stood at 0.1 points, although it dropped by 3.0 points compared to the confidence levels reached in June 2024.
TimesNow.com.ng reported that remittance inflows have increased significantly, according to the Central Bank of Nigeria (CBN), reaching $553 million in July 2024—a 130% increase from the same month in 2023.
Hakama Sidi Ali, the acting director of corporate communications, revealed this in a statement. s
Ali claims that the amount is the largest monthly inflow ever and highlights the CBN’s continuous efforts to increase market liquidity in Nigerian foreign exchange.
Source: TimesNow.com.ng
