Macroeconomic Report & Economic Updates

April 4, 2017

Nigeria Economic Update (Issue 13)

OPEC basket price increased (Week-on-Week) by 1.6 percent to $49.45 per barrel on March 31, 2017- the first increase recorded in three weeks. Also, Bonny light rose by 4.7 percent to $51.92 per barrel. The rise in crude oil prices reflects demand-side expansion, consequent upon a myriad of factors: slower rise in USA crude reserves, huge supply disruptions in Libya, and the prospective extension of OPEC supply cut deals in member countries. The strengthening of crude oil price amid calm in the Niger Delta oil region, presents positive outlook for the Nigerian economy. However, given the adverse implications of sole dependence on crude oil revenue, the government should avoid returning to the norm and make efforts to intensify investments in other key sectors of the economy

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Nigeria Economic Update (Issue 15)

Recent data on Nigerias labour market points to a rise in the rate of unemployment and underemployment in 2015Q4. Specifically, compared to 2015Q3, the rate of unemployment and underemployment rose to 10.4 per cent and 18.7 per cent from 9.9 percent and 17.4 percent respectively. These statistics however masks the true situation of the youth employment in Nigeria. Disaggregated data by age category shows that unemployment and underemployment within the youth age category (15-24) was remarkably higher than the national average, at 19 and 34.5 per cent respectively.

All-Share Index And Market Capitalization

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