Manufacturers’ confidence in Nigerian economy drops on inflation, FX crisis

Manufacturers’ confidence in the Nigerian economy dropped in the fourth quarter of last year on the back of surging inflation and foreign exchange crisis, new data released on Tuesday have shown.

The aggregate Manufacturers CEO’s Confidence Index (MCCI) of the Manufacturers Association of Nigeria (MAN) declined to 55.0 points in Q4 from 55.4 points in the previous quarter.