Macroeconomic Report & Economic Updates

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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November 6, 2018

Nigeria Economic Update (Issue 43)

The CBN quarterly consumer expectation survey shows that consumers expressed optimism as outlook for the third quarter of 2018 was positive. Relative to 2018Q2, consumer index increased from -6.3 index…

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October 29, 2018

Nigeria Economic Update (Issue 42)

The recent compilation of Gross Domestic Product (GDP) at sub-national level by the NBS provides estimates for eleven states for a five-year period covering 2013-2017. The eleven states covered, contributed…

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October 26, 2018

Nigeria Economic Update (Issue 41)

The World Bank’s recently unveiled Human Capital Index ranks Nigeria at 152nd position out of the 157 countries surveyed, with a value of 0.34.  Nigeria is placed below several other…

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October 17, 2018

Nigeria Economic Update (Issue 40)

The World Bank’s recent Africa Pulse publication reveals a revised 2018 growth rate forecast for Nigeria from the earlier projected 2.1 percent to 1.9 percent1 – representing a slight downward…

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October 15, 2018

Nigeria Economic Update (Issue 39)

Nigeria’s all products terms of trade (calculated as the receipts of exports as a percentage of payments for imports), indicated increases in the three months of 2018Q2. Indexed at an…

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