The recent movements in the dollar-naira exchange rate, following the removal of the currency peg, has stimulated ongoing debate in the media that South Africa has regained its position as the largest economy in Africa. The prevailing notion is that the depreciation of the naira and simultaneous appreciation of the rand against the US dollar implies that South Africa’s GDP has surpassed that of Nigeria. However, this argument needs some re-examination, given that the value of the GDP (in current US$) is sensitive to the choice of exchange rate and GDP figures used for its computation. This piece situates the present argument in the context of recent commodity market crisis and its implications for the two largest economies in Sub-Saharan Africa
Policy Brief & Alerts
This brief examines two measles immunization programs for children of age 9-23 months in an effort to boost measles immunization coverage in Borno State: free immunization against measles with media awareness campaign and free immunization against measles with house to house campaign.
Infrastructural development is a key step in providing a competitive business environment for African economies. It provides the backbone for poverty reduction strategies and programmes designed to improve the livelihood of the poor. Africa is in dire need of infrastructural development. The absence of quality infrastructure in the continent holds back per capita economic growth by 2 percentage points each year and depresses firm productivity by as much as 40 percent (Escribano et al., 2008 and Kelly, 2012). Estimates suggest that around USD 90 billion is required to close Africas infrastructure gap annually until 2020 (AICD, 2010).
Fiscal responsibility acts have become increasingly common tools to enhance fiscal prudence and public expenditure transparency in many countries. In Nigeria, fiscal profligacy at the sub-national level has emerged as a major contributor to state corruption and macroeconomic instability.