Volatile Market and Cautious Investor Positioning
Nigeria’s latest CBN indicators present a consistent picture of an economy balancing macroeconomic stabilisation against weakening real-sector activity. While the Composite Purchasing Managers Index (PMI) improved marginally to 49.6 in May 2026 from 49.4, it remained below the 50-point threshold for a second consecutive month, signalling continued contraction driven by weak services and industrial activity despite sustained agricultural expansion.