Policy Brief & Alerts

March 11, 2018

A Note On The Economic Downturn In Sub-Saharan Africa

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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



Geographic Potentials, Production Integration And Regional Integration In West Africa

The paper discusses the geographic characteristics of West Africa, the diverse productive activities in each of the geographic location and its implications for regional integration.

Testing The Impact Of Foreign Aid And Aid Uncertainty On Private Investment In West Africa

The paper examines the impact of foreign aid on private investment in West Africa and whether multilateral and bilateral aid affects private investment differently.

Nigeria Economic Update (Issue 9)

Crude oil prices fluctuated during the review week. OPEC weekly basket price decreased marginally from $53.63 on February 24, 2017 to $53.34 on March 3, 2017. Similarly, Brent crude declined (week-on-week) by 0.84 percent to $55.15, while Bonny light decreased by 2.4 percent to $54.4 per barrel. During the week, reports of Russias incomplete compliance to agreed production cut and rising United States crude production/inventories, led to the slight pressure exerted on oil prices. The uncertainties and volatility of global crude oil price stresses the need for the government to channel efforts at developing other key sectors of the economy, particularly the manufacturing sector.