At N4,401.91 billion or 7.7 per cent of GDP, gross federally collected revenue for the first half of 2018 was 33.7 percent below the proportionate budget estimates but 47.1 percent above the level recorded in corresponding period of 2017.1 The difference in revenue, relative to the proportionate budget estimates, was driven by shortfalls in both oil and non-oil revenue components. The decline in oil revenue was due to a difference between the budgeted crude oil production benchmark of 2.3 million barrels per day (mbd) and the actual production of 1.90 mbd. An increase in crude oil price over the budget benchmark within the review period was insufficient to reverse the decreasing trend in oil revenue.
Macroeconomic Report & Economic Updates
November 14, 2018
Nigeria Economic Update (Issue 44)
At N4,401.91 billion or 7.7 per cent of GDP, gross federally collected revenue for the first half of 2018 was 33.7 percent below the proportionate budget estimates but 47.1 percent above the level recorded in corresponding period of 2017.1 The difference in revenue, relative to the proportionate budget estimates, was driven by shortfalls in both […]
Read →
Related
Nigeria Economic Update (Issue 47)
Recent
data by NBS indicates an increase in bank credit to private sector. Specifically,
private sector credit rose (year on year) by 24.4 percent to N16,185.1 billion
in 2016Q3 relative to 2016Q2, with Oil and gas, and Manufacturing
sectors taking the consecutive largest shares of the credit. The rise may be connected
to the need to improve credit availability to critical sectors in order to
hasten the recovery from the ongoing recession. The present rise in bank credit
to the manufacturing sector seems to be a step in the right direction as the
sector is critical to Nigerias industrialization and economic stability.
The Budget, Fiscal Policy And Service Delivery
The
paper discusses the Macroeconomic impact of budget and its process and how to
achieve an efficient and timely budget cycle.
Consequences Of School Resources For Educational Achievement
This paper examines the
determinants of educational achievement in a developing country context,
Burkina Faso. We deviate from the extant literature by constructing an
aggregate index of school quality from the observable school resources. Also, we
account for school choice constraints, faced by children especially in rural
areas, as it relates to the geographical inequalities in the distribution of
quality schools. These treatments provide an unbiased estimates of the
relevance of school resources for academic performance. The empirical approach
is based on a two-stage procedure that accounts for supply constraints in
school choice.