Over The Election Period, Business Activity Decreased To A Three-year Low.

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S&P Global’s Purchasing Managers’ Index shows that Nigeria’s PMI decreased from 53.5 the previous month to 44.7 in February.

From the peak of the coronavirus pandemic in June 2020, this record has been the worst.
S&P Global compiles purchasing managers’ index data for more than 40 markets throughout the world.

The Manufacturers Association of Nigeria stated last month that the present shortage of naira notes had a detrimental effect on company operations by obstructing the normal flow of commodities.

Distributive trade and the retail sector of the economy were thus impacted by the cashless policy and the removal of cash from circulation.


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