The latest edition of The State Of The Nigerian Economy highlights the economy’s performance in the month of June, as rainfall adversely impacts supermarket and mall traffic. PMI shrinks to 49.9 percent marking the lowest point in 11 months.
The local currency the Naira traded flat between N360/$-N362/$ (parallel market), as the country’s external reserves fell to $45.05 billion in June. The FAAC allocation rose by 10 percent to N679.9 billion on higher oil revenues.
Find out why this month’s edition s themed: The Clouds Gather and the Uncertainty Increases
An extensive assessment of the economy’s performance is summarized in the LBS July 2019 Report .