Macroeconomic Report & Economic Updates
January 23, 2017
Nigeria Economic Update (Issue 2)
Recent ranking by the World Bank, portrayed Nigeria as having a poor business environment based on the ease of doing business in 2016. Although, Nigeria moved one position forward from previous (2015) ranking, to attain the 169th position out of the 190 global economies reviewed4. This poor rating is resultant of a myriad of factors, including: difficulties in starting a business, enforcing contracts, inaccessibility to credit, tax payment issues, as well as unreliable supply of energy, and labour market regulations. Going forward, improving the efficiency of tax administration by adopting the latest technology to facilitate the preparation, filling and payment of taxes will be beneficial for the business community.
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Purchasing Managers Index
Purchasing Managers Index: The level of business activities declined sharply in the first half of 2016 on the account of weak economic performance. Particularly, the issues surrounding exchange rates
Implementing The Fiscal Responsibility Act At The State Level In Nigeria
Fiscal responsibility acts have become increasingly common tools to enhance fiscal prudence and public expenditure transparency in many countries. In Nigeria, fiscal profligacy at the sub-national level has emerged as a major contributor to state corruption and macroeconomic instability.