According to a poll conducted by the Central Bank of Nigeria, economic activity in the Nigerian economy is predicted to improve over the next six months.
This is according to the July Business Expectations Survey report, which was released by the CBN on Wednesday.
According to the poll, Nigeria’s service and agriculture industries will drive growth.
It was also stated that agriculture has the best employment prospects, followed by industry and services.
According to the top bank study, insecurity, interest rate hikes, limited power supplies, and excessive taxes slowed corporate activity in July 2024.
“Respondent firms forecast the exchange rate to fall in all review periods except the next six months. However, they anticipate that the borrowing rate will grow during all of the time periods under consideration.
“Respondents expressed confidence about the general economic environment in July 2024, as business conditions in Nigeria are likely to improve. This optimism is fueled by responses from the agricultural sector.
“Respondents’ outlooks for the next month, three months, and six months were all optimistic.
“The enterprises’ good prognosis for the number of business activity in the coming month reflected enhanced employment expectations during the same period. The agriculture sector has the best job prospects, followed by the industry and services sectors, according to the research.
The Central Bank of Nigeria has lately resumed the release of major economic reports in order to promote accountability in the Nigerian economy.
