Macroeconomic Report & Economic Updates

March 8, 2018

Nigeria Economic Update (Issue 16)

The World Economic Outlook report, recently released by the World Bank, reduced its growth projection for Nigeria to 2.1 percent in 20181, from 2.5 percent2. The new growth projection is considerably lower than the 3.5 percent 2018 growth rate projected by the federal government of Nigeria. However, at 2.1 percent, the growth is a significant […]

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The World Economic Outlook report, recently released by the World Bank, reduced its growth projection for Nigeria to 2.1 percent in 20181, from 2.5 percent2. The new growth projection is considerably lower than the 3.5 percent 2018 growth rate projected by the federal government of Nigeria. However, at 2.1 percent, the growth is a significant improvement from actual 2017 growth rate of 0.83 percent; and this outlook has been hinged on improving oil prices, revenue and production, and foreign exchange measures that contribute to better foreign exchange availability.




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Nigeria Economic Update (Issue 4)

The Naira/Dollar exchange rate remained unchanged at ?199/$ in the official market but depreciated from ?263/$ to $267 at the Bureau De Change (BDC) market segment this week. As the naira depreciates, the CBN forex restriction measures continue to widen the gap between the official rate and BDC, which has led to increased calls for naira devaluation. The International Monetary Fund (IMF) and Business owners are among the major advocates for a relaxation of the forex restrictions set by the CBN, in order to enhance the level of economic activities.

FDI, FPI And Other Investments

FDI, FPI and other Investments: Portfolio investment has continued to fall rapidly since 2014, while FDI inflows remain subdued since 2010