Macroeconomic Report & Economic Updates

July 28, 2016

Nigeria Economic Update (Issue 32)

The naira continued its
downward trajectory this week. Specifically, naira depreciated at the interbank
segment by 3.45 percent to N300/$; and by 3.56 percent to 378/$ at
the parallel segment. Despite the CBNs effort to support the naira
with Forwards and FOREX futures, the excess demand for dollar continues to put
pressure on the naira. Looking forward, the stabilization of exchange rate
depends on the ability of the CBN and government to attract capital inflows;
particularly by raising interest rate, tackling inflation and supporting
economy recovery.

Download Label
March 13, 2018 - 4:00 am
517.60 kB
v.1.7 (stable)



Climate Policy And Finance

Carbon pricing has been recognized not only as the most efficient economic policy instruments to internalize the social cost of emissions, but also as a major tool to generate public revenues that can be used to offset the potential adverse distributional effects of climate policy. However, in many developing countries, there is a widespread reluctance to commit to climate policy, largely due to financial constraints, a lack of public support, and concern over its regressive effects.This paper makes recommendations towards the design of an effective carbon pricing system that not only discourages air pollution but also encourages the gradual uptake of climate-friendly technologies by the private sector in Nigerias oil and gas sector, while supporting public investment in sustainable infrastructures and projects that offset the distributional effect of the climate policy.

Nigeria Economic Update (Issue 38)

Recent NBS data on Nigerias real GDP growth rate declined from -0.36 percent in 2016Q1 to -2.06 percent in 2016Q2. With negative GDP growth rate in two consecutive quarters, Nigeria records its first recession in 23 years. Both the oil and non-oil sectors continued to contract by -15.59 and -0.20 percentage points, respectively, relative to preceding quarter. The worsening growth rate in the oil sector was largely driven by the decline in domestic crude oil production by 14.5 percent relative to preceding quarter