Latest data from the CBN shows that Nigeria’s external reserves fell significantly in August 2018. As at the end of July, the reserve stood at $47.11 billion; it dropped to $45.83 billion by August 23– losing as much as $1.23 billion in the month. The CBN’s continuous intervention along with affected foreign investment premised around political uncertainties, may have triggered the decline in reserves. Policy actions that relay a message of future political stability and conducive business environment amid politicking for 2019 elections is critical to sustaining short-medium term investment flows.
Macroeconomic Report & Economic Updates
This paper explores the issues relating to the establishment of a Sovereign WealthFund (SWF) in Nigeria consistent with best practices. Experience with established SWFssuggests that successful oil- based funds tend to be underpinned by a sound oil revenuemanagement framework. The paper thus discusses the underlying issues of oil revenuemanagement, the policy choices and SWF implementation issues.
Recently released report by the National Bureau of Statistics shows that Nigeria recorded remarkable Year-on-Year (YoY) and Quarter-over-Quarter (QoQ) increase in capital importation. Total capital importation stood at $1,792.3 million in 2017Q2, representing 72 percent YoY and 97 percent QoQ growths respectively. Disaggregated data points to portfolio investment as the dominant type of investment imported, with a value of $770.5 million, 43 percent of total capital importation. The increase in capital importation was driven by 145 percent QoQ surge in portfolio investment and a remarkable increase in capital imported through shares.
This study presents a Cost-Effectiveness Analysis of two water interventions in Bauchi state, Nigeria aimed at reducing the incidence of and death from diarrhea disease namely: the Pipeline and Hand pump water supply schemes.
The International Monetary Fund (IMF) slightly revised upward growth projections for SubSaharan Africa by 0.1 percentage point in 2017 but retained growth estimates for 2018.1 Precisely, growth estimate in the region was increased from 2.6 percent in April 2017 forecast to 2.7 percent in July 2017 forecast, while it was retained at 3.5 percent for 2018. The slight upward revision in 2017 is attributable to an upgrade in South Africas growth prospect from 0.8 percent in April 2017 to 1.0 percent in July 2017. Despite the upward 2017 revision, 2018 forecast for South Africa was revised down from 1.6 percent in April 2017 to 1.2 percent in July 2017. Growth forecast for Nigeria remained unchanged at 0.8 percent and 1.9 percent for 2017 and 2018 respectively.