As Nigeria is currently witnessing an economic and fiscal crisis, the need for evidence-based and timely research to guide policymakers in making informed decisions have become ever more useful. CSEA, as a leading think tank in Africa, with proximity to policymakers in the capital city of Abuja, is increasingly repositioning itself to track and analyse key developments in the Nigerian economy, and provide actionable recommendations. Thus the centre has strengthened its organizational structure, research capacity and quality, as well as its dissemination strategy to ensure that policy-relevant research is continuously channeled into the policy space
Nigerias inflation rate remained above CBNs bandwidth of 6-9 per cent. Specifically, the inflation rate increased slightly from 9.55 percent in December 2015 to 9.62 percent in January 20165. The Core sub-index remains the main driver of inflation in Nigeria. The higher prices of items in the Core sub-index such as clothing and foot wears are reflective of higher domestic production costs as a result of the decline in the value of the naira relative to the dollar. However, in the period, the price increase was moderated by the stable price of Premium Motor Spirit (PMS). Going forward, without any sustainable policy measure to prevent the further depreciation of the naira, inflation may exceed the current single digit inflation rate in the near term.