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| Economic activities record 8th consecutive month expansion in July —CBN |
 The Central Bank of Nigeria, CBN, yesterday, said economic activities expanded for the eighth consecutive months at 52.7 index points in July 2025.
CBN disclosed this in its Purchasing Managers Index, PMI, Survey Report for July. The report showed that out of the 36 subsectors covered in the survey, 26 expanded in economic activities. According to CBN, “The composite PMI for July 2025 indicated an expansion in economic activities for the eighth consecutive month. “A further breakdown of the 36 subsectors across the Industry, Services and Agriculture Sectors showed that 26 subsectors reported expansion in economic activities with Transportation Equipment recording the highest growth during the review month. It stated: “Ten (10) subsectors recorded moderation in economic activities with Paper Product reporting the highest decline.” CBN also said that the industry sector recorded growth for the eighth consecutive months at 51.1 index points in July. The Service sector at 52.8 index points recorded growth for the sixth consecutive months during the period. Likewise, the agriculture sector recorded twelfth consecutive months expansion at 53.9 index points in July. Meanwhile, Nigerians expect the inflation rate to be stable in the next coming months as the proportion of those who perceived inflation to be high declined to 66.2 percent in July from 71 percent in June. In its latest Inflation Survey Report, CBN said: “The proportion of respondents (66.2 percent) who perceived that inflation is high further declined in July 2025, compared to the preceding month of June (71 percent). The perception, according to the apex bank was primarily driven by the opinion of household respondents, which declined to (63.4 percent) in the month under review compared to June (69.5 percent |
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At 29.31%, Maximum Lending Rate Drops One-Year Low Amid Stable Monetary Fee As the Monetary Committee Members (MPC) of the Central Bank of Nigeria (CBN) retained interest rate at 27.50 per cent, the average maximum lending rate in Nigeria’s banking sector droppedThe post At 29.31%, Maximum Lending Rate Drops One-Year Low Amid Stable Monetary Fee appeared first on |
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FG makes tax identification mandatory for banking, allied services Emma Ujah, Abuja Bureau Chief The Federal Government has made Tax Identification, (Tax ID) compulsory for people getting involved in banking and allied services in the country. Consequently, all taxable Nigerians are to obtain a Taxpayer Identification when the new tax Acts come into force in January 2026. The Tax ID is contained in the provisions of […]The post FG makes tax identification mandatory for banking, allied services appeared first on Vanguard |
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Economic activities record 8th consecutive month expansion in July —CBN •As Nigerians expect stable inflation rate  By Elizabeth Adegbesan The Central Bank of Nigeria, CBN, yesterday, said economic activities expanded for the eighth consecutive months at 52.7 index points in July 2025.   CBN disclosed this in its Purchasing Managers Index, PMI,  Survey Report for July.   The report showed that out of the 36 subsectors covered in […]The post Economic activities record 8th consecutive month |