Publications

September 13, 2021

Nigeria Economic Update (Issue 34)

The Central Bank of Nigeria has cautioned Microfinance Banks (MFBs) against engaging in foreign exchange (forex) transactions and other prohibited activities including wholesale banking.1 According to the circular issuing this…

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September 2, 2021

Nigeria Economic Update (Issue 33)

According to the National Bureau of Statistics, the volume of Value-Added Tax (VAT) has risen from ₦496.39 billion to ₦512.25 billion between Q1 and Q2 2021, reflecting a 3.2 percent…

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August 31, 2021

Nigeria Economic Update (Issue 32)

Between 2015 and 2021, Nigeria’s external debt from the World Bank and the African Development Bank nearly doubled, increasing from US$7.23 billion to US$14.35 billion. ¹ About US$11.097 billion was…

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August 30, 2021

Nigeria Economic Update (Issue 31)

According to the National Bureau of Statistics, the total value of capital importation declined by 54 percent from US$1,905.89 million in the first quarter of 2021 to US$875.62 million in…

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August 30, 2021

Is Africa doing enough to strengthen data governance

Although the potential of data as a resource, and digital technologies are yet to be fully exploited in the region, some progress is underway.

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August 26, 2021

Keynote Address by Dr Ngozi Okonjo – Iweala on Data Governance in Africa – Pathways for strengthening confidence in the digital economy

There have been various conversations in recent times on the global stage, many of which I have participated actively in, around the imperative for strong efforts towards speedy economic recovery…

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August 24, 2021

Nigeria Economic Update (Issue 30)

According to the World Bank, the participation in the Nigerian labour force has declined by about 20 million workers between 2018 and 2020.¹ Even for those within the labour force,…

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August 16, 2021

Nigeria Economic Update (Issue 29)

The Federal Government (FG) have announced plans to increase oil reserves by 40 billion barrels by the year 2030 with aim of dominating the West African oil and gas market.¹…

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August 16, 2021

Nigeria Economic Update (Issue 28)

Within the period of January 1 and May 31, 2021, the Nigerian Communications Commission (NCC) recorded an increase of over 400 percent in revenue budget performance in respect of spectrum…

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August 16, 2021

Nigeria Economic Update (Issue 27)

The Federal Government has approved the Medium-Term Fiscal Framework (MTFF) for 2022-2024. The framework is based on the following key parameters: crude oil price benchmark of $57 per barrel, crude…

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August 6, 2021

Strengthening Data Governance in Africa

This inception report focuses on the emerging trends in Africa’s digital and data environment. The study builds a case for mobilizing action at both regional and national levels, to strengthen…

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July 23, 2021

Lessons for Macroeconomic Policy from Nigeria Amid the COVID-19 Pandemic

The COVID-19 pandemic has had severe impacts on the macroeconomy and the livelihoods of households globally. The restrictions to movement alongside the associated uncertainty stimulated a sudden decline in the…

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July 19, 2021

Nigeria Economic Update (Issue 26)

Crude oil price increased to the highest since 2019 while external reserve decreased in the week under review. The price of Nigeria’s bonny light increased by 3.5 percent to an…

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July 12, 2021

Nigeria Economic Update (Issue 25)

Inflation rate decreased for the second consecutive month in May 2021. More specifically, inflation rate fell to 17.93 percent in May 2021, 0.19 percent lower than the 18.12 percent recorded…

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July 9, 2021

Nigeria Economic Update (Issue 24)

According to the World Bank, 7.2 million Nigerians could be pushed into poverty due to higher inflation rate and fall in purchasing power in 2020. Inflation rate rose every month…

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July 5, 2021

Estimating the Economic Impact of Chinese BRI Investment in Africa

China’s investment in African infrastructure as part of its Belt and Road Initiative has proven to be both transformative and controversial. While investment projects are helping Africa to close its…

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