The Central Bank of Nigeria (CBN) has reported that business owners expect a better economy in December 2020 and the next 6 months as businesses project to provide more jobs.
This was shown in the November 2020 Business Expectations Survey carried out by the Central bank of Nigeria.
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The survey showed that a lot of business owners expect the wholesale/retail trade sector to provide more Jobs this month and the next six months.
Agriculture and other Services sectors are also expected to provide more Jobs.
“Respondent firms’ opinion on the volume of business activities indicated a favourable business outlook for December 2020 and January 2021 with indices of 56.0 and 61.4, respectively. Businesses also hope to employ in December 2020 and January 2021 as the outlook was positive at 19.1 and 22.3index points, respectively.
The break down by sector showed that the wholesale/retail trade sector with (22.4 points) has the highest prospect for employment in the next month, followed by Agric/services sector with an index of 21.7 points, construction (16.2 points) and manufacturing sector (14.3 points).”
In spite of the expected worse economy and depreciation of the Naira against Dollar in November, CBN reports that business owners still hope for a better business environment in December and coming month.
“Respondents from all the sectors of the economy expressed optimism on own operations in the review month with confidence index of 4.4, 2.2, 0.5 and 0.4 for agric./services, manufacturing, construction and wholesale/retail trade sectors, respectively.”