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 […]
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Nigeria Economic Update (Issue 6)
Latest figures of FDI flows to Nigeria show
a decline of 27 per cent from $4.7 billion in 2014 to $3.4 billion in 20152,
representing its lowest value since 2005. This decline is largely attributed to
the oil price slump, which has generally increased uncertainty in the economy,
with adverse effects on investors confidence. The fall in FDI flows was
witnessed in most resource based economies in Africa, as FDI flows to the
continent fell by 31 percent in 2015. The forex controls in place in Nigeria
has also exacerbated the uncertainty in economy, and created obstacles for both
domestic and foreign investors. Thus a review of the forex restrictions could
send positive signals to investors.