Macroeconomic Report & Economic Updates
May 10, 2016
Nigeria Economic Update (Issue 20)
Power sector
analysis shows an increase in power generated by 15.5 percent from 3639.2 megawatt
to a peak of 4196.2 megawatt between April 22, 2016 and April 29, 201612,
albeit a sharp fall to 25.2 megawatts on April 23, 2016 following a system
collapse13. In a bid to attain the targeted 10,000 megawatts by 2019,
the Federal Government is set to complete the ongoing 47 power transmission
projects across the country, which would boost power supply14.
However, the delays in passing the budget into law is a major constraint to the
completion of the projects. Thus government needs to speed-up the passage of
the 2016 budget to provide the funds to complete the projects.
Related
Issues In Fiscal Policy Management Under The Economic Reforms
This paper was produced as part of a larger project which was jointly financed by the UKDepartment for International Development in Nigeria (through its Policy and Knowledge facility)and the Research Committee of the World Bank.
Nigeria Economic Update (Issue 44)
Recently released Nigerias
petroleum imports data, show a significant decline in the quantity and value of
petroleum import products (PMS, AGO and NHK) between 2015 and 2016.
Specifically, value of imports significantly declined year-on-year (January to
April) by 30.4 percent to N571 billion in 2016. The huge decline in
the import of (refined) petroleum products likely reflects the lower
(unrefined) crude oil production/exports. Furthermore, it is likely that the
import of petroleum products could decline in subsequent years; however, this
is dependent on the prospects of the three domestic refineriesbeing refurbished.