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Stanbic IBTC’s April headline PMI at 55.5

Stanbic IBTC says April PMI came in at 55.5 percent showing signs that the recent soft patch in the Nigerian private sector may have come to an end in April as business conditions improved to the greatest extent since late last year. Gbolahan Taiwo, Regional Economist for West Africa at Stanbic IBTC joins CNBC Africa to discuss the details.

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Nigeria’s headline Purchasing Managers Index for the month of May came in at 52.9 points below the previous month's reading of 55.5 although the rate of output price inflation softened in the period. This is according to Stanbic IBTC's PMI report. Gbolahan Taiwo, Regional Economist for West Africa at Stanbic IBTC joins CNBC Africa for this discussion.