Macroeconomic Report & Economic Updates

June 17, 2016

Nigeria Economic Update (Issue 26)

The All-Share index
(ASI) and Market Capitalization both depreciated (week-on-week) by 1.45 percent
for the second consecutive trading week- June 3, 2016 to June 10, 20166.
ASI depreciated by 401.8 points from 27,634.42 points to 27,232.62 points,
while Market Capitalization declined by N140billion from N9.49 trillion closing
the week at N9.35 trillion. All other indices declined, with the exception of NSE
ASem Index, NSE Insurance Index, and NSE oil/Gas Index. The delay in the
implementation of proposed forex policy continues to adversely affect stock
market performance. However, with growing speculations that the new FOREX
guidelines would be released in the succeeding week, market indices could
perform better subsequently. Hence, monetary authorities should ensure the timely
release and implementation of the new FOREX policy to boost investors
confidence in the near term and ensure price stability in the capital market.

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Nigeria Economic Update (Issue 46)

On a Month-on-Month basis, average growth rate of selected food prices decreased in October 2017.  Precisely, contracting by 1.24 percent in October, average growth rate fell from 0.08 percent recorded in September 2017. Notably, the contraction reflected in the food sub-index of the headline inflation for October 2017. The marginal decrease in the prices of selected food items may be in line with seasonal levels, as the harvest season reaches its peak, thus making food items relatively available at various demand levels. Going forward, investment towards the provision of better farming inputs, technology, financing, and value addition across the agricultural value chain could help improve yield output and food security all through the year.