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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Capital Importation And Budgetary Allocation (ITC)

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Nigeria Economic Update (Issue 22)

Available data from Nigeria Bureau of Statistics shows a decline in the Nigeria Aviation sub-sector (Transport Sector) real growth rate in 2017Q1. Compared to the preceding quarter, the sub-sector declined significantly by 9.6 percent, due to decline in the number of passengers and movement of aircrafts this may be connected to the closure of the Abuja airport for infrastructural development during the period. To ensure a near-optimal performance of the aviation sector, the government should also make efforts to improve aviation safety and security, establish a national carrier, and improve aircraft maintenance to world class standards.