The Central Bank of Nigeria has said businesses, while expressing optimism about the macroeconomic environment, have projected further depreciation of the naira this month and the first three months of 2025.
In its Business Expectation Survey Report for November 2024, noted that firms’ outlook on the volume of business activities, financial conditions, access to credit, volume of total orders and average capacity utilisation, were pessimistic.
“Businesses expect the Naira to depreciate in the current month, next month and next 3 months but appreciate in the next 6 months.
“The optimism on business outlook in the current month is driven by the opinion of respondents from all the sectors.
“The Construction Sector expressed optimism on own operations in the review month.
“The outlook of respondents on the volume of business activities, the volume of total order, financial conditions, and access to credit were negative in the review month. volume
