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
OPEC weekly basket price increased marginally from $45.09 on June 17, 2016 to $45.95 on June 24, 2016, while Nigerias bonny light increased from $47.61 to $48.90 (with a peak of $49.2 on June 23, 2016)within the same period. The rise in oil price, amidst downward pressures, was likely driven by expectations that the UK would remain in the EU. However, price fell (to $47.61) on June 24, 2016 following the outcome of the UK referendum (on June 23, 2016) to leave the EU. This was driven by concerns over a possible contagion effect of further disintegration on the EU (a major oil consumer) which could drive down oil demand in the longer term. In the medium term, oil prices could face further pressure as a result of rising crude oil output and attenuating production disruptions in Canada and Nigeria. Although, the recent rise in oil prices seem transient, Nigeria can benefit from the marginal rise if disruptions in oil production is quickly resolved
This brief aims to deepen stakeholders understanding of the sources of funding and how money is allocated to and spent in the social sectors of health and education, which are critical for pro-poor growth and poverty alleviation.
This paper examines the determinants of educational achievement in a developing country context, Burkina Faso. We deviate from the extant literature by constructing an aggregate index of school quality from the observable school resources. Also, we account for school choice constraints, faced by children especially in rural areas, as it relates to the geographical inequalities in the distribution of quality schools. These treatments provide an unbiased estimates of the relevance of school resources for academic performance. The empirical approach is based on a two-stage procedure that accounts for supply constraints in school choice.
Naira appreciated in the week under review. At the parallel market, naira gained 0.54 percent to exchange at N368/$ on June 23, 20175. This is at the backdrop of injections into the forex market by the CBN to the tune of $195 million at the beginning of the review week, to meet various forex demands. This is amid a slight week-on-week increase in the external reserves (by 0.1 percent to $30.23 billion). Despite the recent naira appreciation, the long-term prospects seem bleak given that the ongoing intervention that seeks to stabilize naira by depleting reserves is unsustainable.