Media highlights show that recent figures from the Nigeria Investment Promotion Council (NIPC) reveals a progressive inflow of capital into Nigeria. Specific figures indicate that Nigeria’s actual capital investment inflow stood at $84.3 billion as at 2018Q11, growing by 27 percent from the $66.4 billion recorded for the whole 2017 fiscal year. Notably, highlights suggest that the capital investment flows have been invested in 112 projects domiciled in 28 states in Nigeria, including the FCT. The increased capital inflow gives a fair sense of growing investors’ interest in the Nigerian economy, as well as their involvements in capital investment projects.
Macroeconomic Report & Economic Updates
This report provides an evidence-based analysis of the state of the Nigerian economy in a bid to inform economic policies in Nigeria. The report presents some analyses of significant economic events in Nigeria within the period, and provides an outlook on what policymakers, businesses, and individuals should expect in subsequent quarters of 2016. It also provides valuable insights into potential drivers of the economic trends and outlines expectations for subsequent quarters of the year. The area of focus are Global Economic Performance, Domestic Economic Performance, External Sector Performance, and Sectoral Performance.
Available reports from the Nigerian National Petroleum Corporation(NNPC), suggests a significant reduction in the cost incurred to produce one barrel of crude oil for the past two years. Specifically, the cost of production reduced by 71 percent from $78 as at August 2015, to $23 per barrel as at August 2017. This may be attributable to moderations in operational expenditures, following repairs and restructuring in the oil region.
This report examines the pattern of economic growth and employment generation in Nigeria based on quarterly data. It also analyzes the quality of job creation, dynamics of output and employment and establishes the link or absence thereof between economic growth and labor demand.
The paper explores the policy framework for implementing the FRA across the 36 states, and identifies the underlying macroeconomic principles required for the FRA to be effective at the state level.