For the 12th consecutive period, the Monetary Policy Committee voted to retain all rates at the end of the policy meeting held on July 23-24, 2018 – MPR at 14 percent, CRR at 22.5 percent, Liquidity ratio at 30 percent and asymmetric corridor at +200 and -500 around the MPR1. A review of laudable developments in key macroeconomic indicators and positive economic growth in the first half of 2018 informed the committee’s stance to hold all rates. However, the committee noted constraints to economic growth outlook in the second half of 2018, especially slow and irregular implementation of the 2018 expansionary fiscal budget that would derail its liquidity impact, as well as possible external shocks. Going forward, there is need for a standardized budgetary calendar that should be adhered to mandatorily in order to guide public and private sector investment plan and foster economic stability
Macroeconomic Report & Economic Updates
August 20, 2018
Nigeria Economic Update (Issue 30)
For the 12th consecutive period, the Monetary Policy Committee voted to retain all rates at the end of the policy meeting held on July 23-24, 2018 – MPR at 14 percent, CRR at 22.5 percent, Liquidity ratio at 30 percent and asymmetric corridor at +200 and -500 around the MPR1. A review of laudable developments […]
Read →
Related
Nigeria Economic Update (Issue 10)
Nigerias inflation rate remained above
CBNs bandwidth of 6-9 per cent. Specifically, the inflation rate increased
slightly from 9.55 percent in December 2015 to 9.62 percent in January 20165.
The Core sub-index remains the main driver of inflation in Nigeria. The higher
prices of items in the Core sub-index such as clothing and foot wears are
reflective of higher domestic production costs as a result of the decline in the
value of the naira relative to the dollar. However, in the period, the price
increase was moderated by the stable price of Premium Motor Spirit (PMS). Going
forward, without any sustainable policy measure to prevent the further
depreciation of the naira, inflation may exceed the current single digit
inflation rate in the near term.
Nigeria Economic Update (Issue 49)
Nigerias
Petroleum Products Imports statistics show a gradual reduction in the volume
and value of petroleum imports (PMS, AGO, HHK) between May and September 2016. Specifically,
volume of imports declined by 34.1 percent for PMS, 37.6 percent for AGO, and
60.3 percent for HHK in the period.The significant decline in
imports in the reporting periods may be as a result of persistent forex
scarcity issues faced by importers. On account of stagnation in
domestic production of refined petroleum products, continuous
decline in oil imports may create a demand gap with upward pressure on gasoline
prices in the economy.
Program Budgeting Analysis On The Nigeria And Heath Education Sectors
This report examines Federal Governments budget, appropriation
and implementation in the three main social sectors of the Nigerian economy -
Education, Health and Water.