Macroeconomic Report & Economic Updates

June 9, 2016

Nigeria Economic Update (Issue 25)

Crude oil price continued to increase in the
period under review, reaching its 2016 peak at $50.30 on June 2, 2016.
Specifically, OPEC weekly basket price increased by 1.43 percent from $44.65 on
May 27, 2016 to $45.29 on June 3, 2016. Brent was sold for $49.96
on June 3, 2016. The present rise in crude oil price can be
attributed to oil production shocks in several oil-exporting countries, and the
general expectation of a further cut in output following the OPEC meeting in
Vienna on June 2, 2016. However, the OPEC meeting ended with no agreement on
production quotas. In Nigeria, oil production level increased in the period
under review, following repairs on some of the damaged oil and gas facilities. Precisely,
Nigerias output increased by 200,000 barrels on June 3, 2016 to 1.6 million

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Nigeria Economic Update (Issue 36)

Recently released GDP figures reveals that the three major sectors recorded positive and negative growth rates individually in 2017Q2. Firstly, Agricultural sector grew Year on Year by 3.01 percent, down from 3.39 percent in 2017Q1- driven by weaker output in crop production and Fishing sub-sectors. This is not unconnected with the planting season and the shortage of grainsfor livestock/fish respectively.

Employment Choice And Mobility In Multisector Labor Markets

This paper examines employment choice and occupational mobility using data from Ghana in a model that incorporates capital market failure, credit constrained individuals and draw self-employment capital from family asset.