Strengthening Naira Value Boosts Business Activity Index To 51.1

Business activity in Nigeria rose to the highest in three months in April 2024 as a result of the improvement in the strength of its currency, a new Purchasing Managers’ Index (PMI) has shown.

The latest monthly PMI by Stanbic IBTC Bank released on Thursday showed the headline index improved to 51.1 last month from 51.0 in March. Readings above 50.0 signal an improvement in business conditions, while those below show deterioration.

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