The CBN quarterly consumer expectation survey shows that consumers expressed optimism as outlook for the third quarter of 2018 was positive. Relative to 2018Q2, consumer index increased from -6.3 index points to 1.5 index points.1 Some respondents attributed their increased confidence to improved economic conditions. Consumers also had a favourable outlook for the next quarter and the next 12 months at 24.7 and 30.1 points respectively, owing to expected increase in net household income and the anticipated improvement in Nigeria’s economic conditions. With rallying global oil prices and some stability in the Naira buttresses consumers’ economic expectations, some indicators cast gloomy prospects. These indicators include: capital flow reversals from Nigeria due to consecutive increases in the United States’ benchmark interest rate, as well as Nigeria’s depleting external reserve, declining equities market performance, and uncertainties in the political environment in lieu of the 2019 general elections
Macroeconomic Report & Economic Updates
Ending (extreme) poverty in all of its forms everywhere around the world continues to dominate the International Development Agenda (UN 2015). However, while poverty is declining in much of the developing world, data from the World Development Report (WDR) Conflict, Security, and Development reveal that fragile and conflict-affected states are lagging behind. The report points out that 'Poverty rates are 20 percentage points higher in countries affected by repeated cycles of violence over the last three decades. Indeed, with the worlds extreme poor over represented in fragile and conflict-affected ,some authors argue that violent conflict is development in reverse
91-Day Treasury Bills: T-bill rate has highly fluctuated overtime on the account of the rise and fall in investor confidence, monetary policy easing/tightening, governments demand for funds, and infl
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
The paper conducts a Benefit Incidence Analysis to determine if public expenditure in education and health sector in Nigeria is pro-poor or pro-rich.