The national accounts for 2017Q4 show that the aviation sector grew year-on-year by 4.7 percent in real terms – significantly higher than the 0.48 percent in preceding quarter but significantly lower than the 13.3 percent in the corresponding quarter of 2016 Drawing from the data recently provided by the NBS, it can be inferred that the increase in the number of both domestic and international passenger traffic in the fourth quarter (by 4.9 percent YOY to 3.7 million passengers) may have partly driven the YOY real growth in the sector. This is in addition to remarkable increases in aircrafts and mail movements – by 4.6 percent and 229.6 percent respectively.
Macroeconomic Report & Economic Updates
The paper highlights the importance of oil sector transparency in order to support governments push towards structural reforms and inclusive growth.
This study conducts a policy simulation exercise on two educational assistance programmes in an effort to increase access to affordable education, access to basic education and enrollment to schools for the girl-child.
Recently released labour force report by the NBS shows a quarter-over-quarter increase in Nigerias working age and labour force population. Working population rose from 110.29 million in 2017Q2, to 111.13 million persons in 2017Q32. The working age population in 2017Q3 constituted 85.08 million persons in the labour force (an increase from 83.94 million), of which 40 percent were either unemployed or underemployed. Thus, total employed persons in the quarter reached 69.1 million.
The modest growth in the global output witnessed in the first quarter of 2015 was driven mainly by advanced economies, particularly the United States. Growth slowed down significantly in emerging and developing economies, primarily natural resource-dependent countries which were adversely affected by falling commodity prices.