Macroeconomic Report & Economic Updates
Nigeria Economic Update (Issue 18)
he International Monetary Fund (IMF) recently announced the approval of $3.4 billion emergency support to Nigeria under its Rapid Financing Instrument (RFI) facility1. This support fund comes as part of…
Download ↓ Read →Nigeria Economic Update (Issue 17)
The total direct remittance inflow into Nigeria has declined considerably, falling by 50% from US$2.04 billion to US$1.01 billion between January and February 20201. This is significantly lower than 2019…
Download ↓ Read →Nigeria Economic Update (Issue 16)
The recent World Economic Outlook (WEO) report released by the International Monetary Fund (IMF) reveals that Nigeria’s economy will contract to -3.4% in 2020, falling from 2.2% projected in 2019.1…
Read →Nigeria Economic Update (Issue 15)
The International Labor Organization (ILO) recently released a report which highlights global trends of employment. The report noted that the sub-Saharan African region which is characterized by high informal employment…
Download ↓ Read →Nigeria Economic Update (Issue 14)
The Federation Account Allocation Committee (FAAC) disbursed the sum of ₦647.35 billion to the federal, state and local of governments in February which is 9.6 percent lower than the ₦716.30…
Download ↓ Read →Nigeria Economic Update (Issue 13)
The manufacturing sector PMI declined from 58.3 points to 51.1 points between February and March 20201. The slowdown was triggered by reduced growth in 7 subsectors including electrical equipment, chemical…
Download ↓ Read →Nigeria Economic Update (Issue 12)
Between January and February, Nigeria’s external reserves declined from US$37.2 billion to $35.5 billion, its lowest in over 2 years1. Although the reserve level remains above the $30 billion benchmark…
Download ↓ Read →Nigeria Economic Update (Issue 11)
The Central Bank of Nigeria (CBN) has taken steps to ensure financial stability amid the COVID-19 pandemic. The steps include a reduction of interest rates for all CBN interventions from…
Download ↓ Read →Nigeria Economic Update (Issue 11)
Foreign capital imported to Nigeria declined by 32% from US$5.6 billion to US$3.8 billion between Q3 and Q4 2019, indicating a decline for the third consecutive quarter1. The decline during…
Download ↓ Read →Nigeria Economic Update (Issue 10)
In its worst performance since the 2008 financial crisis, the NSE All-Share Index and market capitalization depreciated by 13.49% to close the week at 22,733.35 basis points and N11.847 trillion…
Download ↓ Read →Nigeria Economic Update (Issue 9)
The Nigerian Stock Exchange All Share Index and market capitalisation declined by 4.28% to close the week at 26,216.46 and N13.658 trillion respectively4. This rise was primarily driven by the…
Read →Nigeria Economic Update (Issue 8)
The National Bureau of Statistics (NBS) has reported that the GDP growth rate in Q42019 is 2.55% which is relatively higher than Q32019 GDP growth rate at 2.28% and remains…
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The total stock of money in circulation declined at the end of January, falling by 7.9% month-on month from N2.4 trillion in December1. Although the current stock of currency in…
Read →Nigeria Economic Update (Issue 6)
The market indices at the Nigerian Stock Exchange (NSE) closed downward in the trading week ended 7th February, 2020. The bearish market recorded a decline in the All-Share Index (ASI)…
Download ↓ Read →Nigeria Economic Update (Issue 5)
The manufacturing Purchasing Managers’ Index (PMI) declined in January to 59.2, indicating a 2.63% fall from the month of December1. The slowdown in sectoral expansion was driven by a decline…
Download ↓ Read →Nigeria Economic Update (Issue 04)
Consumer prices for the month of December 2019 increased by 0.13 percentage points from the preceding month which stood at 11.85% 1. This rate was 0.54% percentage points higher than…
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