The removal of the fuel subsidy in Nigeria caused a sharp strengthening of price pressures in June 2023. In turn, rates of expansion in output and new orders softened, but remained marked nonetheless. Business confidence dipped to a near record low. Intensifying inflationary pressures encouraged companies to expand inventories to try and get ahead of … Continue reading Stanbic IBTC Bank PMI: Inflationary Pressures Mount Following Fuel Subsidy Removal