Publications

July 9, 2021

Nigeria Economic Update (Issue 24)

According to the World Bank, 7.2 million Nigerians could be pushed into poverty due to higher inflation rate and fall in purchasing power in 2020. Inflation rate rose every month…

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July 5, 2021

Estimating the Economic Impact of Chinese BRI Investment in Africa

China’s investment in African infrastructure as part of its Belt and Road Initiative has proven to be both transformative and controversial. While investment projects are helping Africa to close its…

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July 2, 2021

Nigeria Economic Update (Issue 23)

The value of total merchandise trade increased by 6.99 percent to N9,757.87 billion in the first quarter of 2021 when compared to the value recorded in preceding quarter.1 The increase…

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June 23, 2021

The Role of Social Influence in Enforcing Tax Compliance: Experimental Evidence from Nigeria

Economic development is linked with increased state capacity including the ability to mobilise domestic tax resources. For many developing countries, high levels of informality are a major constraint in this…

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June 18, 2021

Nigeria Economic Update (Issue 22)

The Monetary Policy Committee (MPC) voted to retain the Monetary Policy Rate (MPR) at 11.5 percent.1 The Monetary Policy Rate (MPR) has remained at 11.5 percent since September 2020. The…

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June 11, 2021

Nigeria Economic Update (Issue 21)

Consumer prices decreased for the first time since August 2019, though marginally. Inflation rates decrease from 18.17 percent in March 2021 to 18.12 percent in April 2021.2 The decrease in…

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June 11, 2021

Nigeria Economic Update (Issue 20)

Based on recent estimates by the World Bank, a total of $17.2 billion diaspora remittances flowed into Nigeria in the year 20201. This represents a decline by 27.7 percent when…

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June 7, 2021

Nigeria Economic Update (Issue 19)

Data from the National Bureau of Statistics shows that Value Added Tax (VAT) revenue for the first quarter of 2021 (Q1 2021) stood at N496.39 billion. This represents 9.17 percent…

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June 7, 2021

Nigeria Economic Update (Issue 18)

Recently released Budget Implementation Report shows that gross total revenue generated in the third quarter of 2020 (Q3 2020) declined by 3.07 percent relative to the previous quarter. Specifically, gross…

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June 7, 2021

Nigeria Economic Update (Issue 17)

Data from the National Bureau of Statistics (NBS) indicates improved performance in total volume and value of electronic banking transactions in Q4 2020. Total volume of e-payment transactions for the…

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May 19, 2021

The Fiscal and Health Impact Of Increases In Tobacco Tax In Nigeria

The detrimental health consequences of tobacco use have been recorded over many decades. The Royal College of Physicians’ report in 1962, followed by the US Surgeon-General’s report in 1964, established…

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April 30, 2021

COVID-19 in Africa: The implications for macroeconomic and socioeconomic dimensions

The COVID-19 outbreak began in December 2019 in the Wuhan city of China and has continued to spread globally. As of this writing, 28.2 million cases have been recorded globally…

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April 27, 2021

Nigeria Econnomic Update (Issue 14)

Data from the World Bank Poverty and Shared Prosperity report shows that Nigeria’s poverty level has further increased in the wake of the COVID-19 pandemic. More specifically, 79 million Nigerians…

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April 23, 2021

Nigeria Econnomic Update (Issue 13)

The Monetary Policy Committee (MPC) has voted to retain the monetary policy rate (MPR) at 11.5%1. Other parameters remain unchanged; for instance, the cash reserve ratio (CRR) was maintained at…

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April 7, 2021

Nigeria Economic Update (Issue 12)

Inflation rate for February 2021 rose for the 18th consecutive month to its highest rate since February 2017.1 SGeoffrey Johnson Obipecifically, inflation rate increased to 17.33 percent in February 2021…

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April 6, 2021

Illicit Tobacco Trade in Nigeria

In this study, we document successful cases of effective synergies in countries that, like Nigeria, display a significant presence of the tobacco industry and face similar challenges to trade regulation…

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