Macroeconomic Report & Economic Updates

September 19, 2018

Nigeria Economic Update (Issue 36)

Total value of Nigeria’s merchandise trade contracted in 2018Q2. Valued at N6.6 trillion1, total trade fell quarter-on-quarter by 8.9 percent from the N7.2 trillion recorded in the previous quarter. Both…

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September 10, 2018

Nigeria Economic Update (Issue 35)

Latest data from the CBN shows that Nigeria’s external reserves fell significantly in August 2018. As at the end of July, the reserve stood at $47.11 billion; it dropped to…

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September 4, 2018

Nigeria Economic Update (Issue 34)

Total capital imported into Nigeria declined in 2018Q2, compared to 2018Q1 – the first quarterly decline since 2017Q1. At $5.5 billion in 2018Q21, capital importation dropped by 12.5 percent from…

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September 3, 2018

Nigeria Economic Update (Issue 33)

Media highlights suggest that leading manufacturers quoted in the Nigerian Stock Exchange, NSE, which operate across sectors have recorded significant upsurge of 20.2 percent in their operating expenses, OPEX, in…

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September 3, 2018

Nigeria Economic Update (Issue 32)

Nigeria’s infrastructure stock, comprising of roads, water-ways, seaports, airports, etc, increased slightly albeit a slower pace in recent years. At an estimated 35 percent of GDP in 2018, infrastructure stock…

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September 3, 2018

Nigeria Economic Update (Issue 31)

Data from the NBS on mining and quarrying in Nigeria show an increase in the quantity of solid minerals produced in 2017. Precisely, Nigeria produced 45.75 million tons of solid…

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August 20, 2018

Nigeria Economic Update (Issue 30)

For the 12th consecutive period, the Monetary Policy Committee voted to retain all rates at the end of the policy meeting held on July 23-24, 2018 – MPR at 14…

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August 14, 2018

Nigeria Economic Update (Issue 29)

The IMF retained its 2.1 percent forecast of Nigeria’s GDP growth rate for 2018, while increasing the 2019 projected GDP growth rate to 2.3 percent1, from 1.9 percent projected earlier.…

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August 2, 2018

Nigeria Economic Update (Issue 28)

Information from the Apex bank shows a likelihood of not attaining the financial inclusion target of 2020 as stated in the Nigeria Financial Inclusion Strategy (NFIS) of 2012. Precisely, the…

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August 2, 2018

Nigeria Economic Update (Issue 27)

Analysis of transactions at the stock market for the month ended May 2018 reveals an increase in the total transaction by a significant 50 percent. From N212.2 billion recorded in…

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August 2, 2018

Nigeria Economic Update (Issue 26)

Figures from the Debt Management Office show a remarkably high percentage change in debt servicing for the first quarter, 2018. Specifically, the Federal Government paid N643 billion for domestic debt…

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July 30, 2018

Nigeria Economic Update (Issue 25)

The recent report on Nigeria’s Public Debt Stock for the first quarter of 2018 indicates a 4.5 percent Quarter-over-Quarter increase, from N21.7 trillion in Q4 2017 to N22.7 trillion1, and…

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July 23, 2018

Nigeria Economic Update (Issue 24)

Agricultural sector exports increased at a remarkable pace in 2017. Total earnings from agricultural export goods grew by 181 percent to N170.4 billion1, compared to the N60.7 billion earned in…

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June 27, 2018

Nigeria Economic Update (Issue 22)

Recently released demographic figures by the NBS shows an upward progression in population and its composition. Specifically, Nigeria’s population reached 193 million in 2016, growing at an annual average of…

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June 26, 2018

Nigeria Economic Update (Issue 21)

As expected, the Monetary Policy Committee left the policy interest rate (MPR) and other parameters unchanged. At 14 percent, the MPR has been left unchanged for the 10th consecutive period1;…

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June 15, 2018

Nigeria Economic Update (Issue 20)

Recently released GDP report for the first quarter of 2018 shows a stronger growth in GDP, relative to the corresponding quarter of 2017. Driven particularly by growth in the Oil…

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