CPI And Its Component And Premium Motor Spirit
CPI and its Components (%)
Its all getting expensive
PMS, AGO and NHK Price (/Litre)
Rising domestic fuel price
CPI and its Component: Changes in inflation rate has mostly been driven by the Core sub-index component. Precisely, in 2016 Q1 and Q2, the rising cost of import, electricity and transport drove inflation back to double digits after nearly two years of relatively low inflation.
Premium Motor Spirit: PMS price has been below N120 up until April 2016. The unusual rise in PMS in April 2016 is attributable to the recent removal of fuel subsidy and the upward adjustment of fuel pump price (from N85.5 to N145) witnessed in 2016Q2.
Public Debt-to-GDP Ratio: The ratio of Nigerias cumulative government debt to national GDP has maintained an upward trend indicating the countrys declining economic productivity and ability to repay
Internally Generated Revenue: Total internally generated revenue particularly declined across the 36 states in Nigeria, in 2015. This is attributable to the weak macroeconomic and financial conditions
Appropriation Act (Budget): Capital expenditure remarkably increased in 2016 relative to preceding year, on the account of the present governments renewed commitment to infrastructure development.
On average, Nigerias GDP growth rate has averaged about 5 percent; attaining an unusual trough of nearly -10 percent in 2003Q4 and a peak of nearly 20 percent in 2004Q4. However, the Nigerian economy