Annual Report

November 6, 2017

CSEA ANNUAL REPORT

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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




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Nigeria Economic Update (Issue 29)

OPEC weekly basket price decreased marginally from $45.95 on June 24, 2016 to $45.26 on July 1, 2016,while Nigerias bonny light fell by $1, from $48.90 to $47.91. The apparent decline in crude oil price was driven by lingering market demand uncertainty, following the unexpected Brexit referendum. More so, ease in supply disruptions in Nigeria and Canada may have contributed to the downward pressure on prices. Going forward, until there is greater regulatory precision on global oil output levels, prices may likely remain stuck or continue to exhibit a downward trend. Although, Nigerias fiscal constraints slightly relaxed with oil production increasing in the review week (following repairs on sabotaged pipeline channels), potential global crude oil oversupply threatens governments revenues. However, oversupply threats could be reduced if there is a consensus on oil production quotas in the upcoming OPEC meeting.

Nigeria Economic Update (Issue 34)

Recent NBS data shows a significant decline in power generated in 2016Q2. Precisely, power generated declined by 31 percent (quarter on quarter) from a total quarterly average of 92,352 MWH in 2016Q1 to 63,692.39 MWH in 2016Q2. Remarkably, the reoccurrences of pipeline vandalism in 2016Q2 prompted the shortage of gas for power generation. Thus, there were about eight recorded system collapses in the quarter which led to several days of power outages. However, subsequent quarterly declines in power generation could be averted if efforts to repair vandalized pipelines and adopt hydro sources are intensified.