Macroeconomic Report & Economic Updates

April 29, 2020

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…

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April 27, 2020

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…

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April 20, 2020

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…

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April 16, 2020

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…

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April 6, 2020

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…

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March 30, 2020

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…

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March 24, 2020

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…

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March 23, 2020

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…

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March 11, 2020

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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March 6, 2020

Nigeria Economic Update (Issue 7)

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…

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February 21, 2020

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)…

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February 21, 2020

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…

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February 11, 2020

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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February 4, 2020

Nigeria Economic Update (Issue 03)

Consumer prices for the month of December 2019 increased by 0.13 percentage points from the preceding month which stood at 11.85% 1. As such, inflation has increased for four consecutive…

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January 29, 2020

Nigeria Economic Update (Issue 02)

Recently, oil price surpassed US$70 per barrel due to the heightened threat to energy facilities in the Middle East. As the tension between the United States and Iran increases with…

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January 21, 2020

Nigeria Economic Update (Issue 01)

The 2020 global gender gap report released by the World Economic Forum (WEF) shows that Nigeria ranks 128 out of 153 countries, indicating a 5-point increase from the 2018 ranking…

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