Macroeconomic Report & Economic Updates

March 21, 2019

Nigeria Economic Update (Issue 9)

By year-end 2018, the country recorded a total trade value of ₦32.3 trillion1, representing 39.3% increase over the corresponding period in 2017. The volume of total merchandise trade in 2018…

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March 15, 2019

Nigeria Economic Update (Issue 8)

The total amount of non-performing loans (NPL) of Nigerian banks declined for the year 2018, relative to 2017. At N1.79 trillion, the stock of NPL fell by 24.2 percent from…

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March 12, 2019

Nigeria Economic Update (Issue 7)

Nigeria’s economy has shown sustained signs of recovery. Real GDP growth rate rose Year-on-Year by 2.38 percent in 2018Q4, as against 1.81 percent recorded in the preceding quarter – an…

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March 1, 2019

Nigeria Economic Update (Issue 6)

The Nigerian economy raked in more revenue for the four quarters of 2018 fiscal year than in 2017. In the recently released economic report, the CBN reported that federally collected…

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February 25, 2019

Nigeria Economic Update (Issue 5)

States’ Internally Generated Revenue (IGR) declined in the third quarter 2018, replicating the same downward trend as seen in the previous quarter. IGR dropped to N264.38 billion in 2018Q3, compared…

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February 12, 2019

Nigeria Economic Update (Issue 4)

The monetary policy committee provided policy parameters at the first meeting for the 2019 fiscal year, held on 21st and 22nd January, 20191. As presumed, all parameters were left unchanged…

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February 5, 2019

Nigeria Economic Update (Issue 3)

Inflation rate rose in December 2018 for the second consecutive month to 11.44 percent, 0.16 percentage points higher than the 11.28 percent recorded in November 2018.1 The rise in inflation…

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January 30, 2019

Nigeria Economic Update (Issue 2)

The amount of financial subsidy that Nigeria absorbs to maintain pump price at the official N145/litre has remained high. According to reports, the NNPC now pays N48.68 subsidy for a…

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January 15, 2019

Nigeria Economic Update (Issue 1)

Considered as a looming crisis, Nigeria’s unemployment rate has continued to deteriorate. Based on the new data released by the NBS unemployment rate stood at 23.1 percent in 2018Q31, up…

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December 23, 2018

Nigeria Economic Update (Issue 50)

The provisional Balance of Payment (BOP) estimates for 2018Q3 disclosed a significant reversal and deterioration in Nigeria’s BOP position, relative to the corresponding quarter in 2017 and 2018Q2. Overall BOP…

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December 22, 2018

Nigeria Economic Update (Issue 49)

Nigeria’s real GDP growth rate rose marginally Year-on-Year by 1.8 percent in 2018Q3, as against 1.5 percent recorded in the preceding quarter – a minor increase of 0.3 percentage points.…

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December 20, 2018

Nigeria Economic Update (Issue 48)

According to the NBS newly released data, total IGR generated by 36 states and the Federal Capital Territory for the first half of the year 2018 outperformed the comparable period…

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December 19, 2018

Nigeria Economic Update (Issue 47)

Recently released 2018 National Nutrition and Health Survey (NNHS) reveals that only 64 percent of children in Nigeria are growing healthily and are not stunted or frail1. The survey stated…

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November 28, 2018

Nigeria Economic Update (Issue 46)

Recent media reports reveal that Nigeria spent an alarming amount of N5.75 billion daily to service debts – summing up to a total of N1.07 trillion for the first half…

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November 21, 2018

Nigeria Economic Update (Issue 45)

According to the latest CBN financial inclusion report, overall progress towards achieving the Nigeria Financial Inclusion Strategy (NFIS) fell short of the annualized target in 2017. The World Bank’s Findex…

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November 14, 2018

Nigeria Economic Update (Issue 44)

At N4,401.91 billion or 7.7 per cent of GDP, gross federally collected revenue for the first half of 2018 was 33.7 percent below the proportionate budget estimates but 47.1 percent…

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