Macroeconomic Report & Economic Updates

April 11, 2016

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.

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Nigeria Economic Update (Issue 3)

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Nigeria Economic Update (Issue 42)

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Nigeria Economic Update (Issue 15)

Nigerian Naira depreciated by 1.2 percent at the parallel foreign exchange market between April 7, 2017 and April 14, 2017. The naira exchanged at N410/$ as against N405/$ the previous week. Despite the CBNs weekly dollar sales to BDCs ($20,000 to each BDC in the review week) and spot market sales of $100 million to SMEs, the nairas depreciated in the week. This may likely be attributable to speculative motives (on the basis that speculators likely anticipate that the CBN forex interventions may not be sustainable).