According to the latest CBN financial inclusion report, overall progress towards achieving the Nigeria Financial Inclusion Strategy (NFIS) fell short of the annualized target in 2017. The World Bank’s Findex database also shows that ownership of an account with a financial institution or a mobile money provider dropped by 4 percentage points from 44% in 2016 to 40% in 20171. The gender disparity in account ownership is greatly manifested, with 51% men owning an account compared to 27% women. Although critical themes were outlined to scale up financial inclusion targets in 2017, factors such as religious and cultural bias to the uptake of financial products, worsening levels of unemployment, and high levels of informality in the economy remained setbacks toward achieving higher rates of financial inclusion in Nigeria.
Macroeconomic Report & Economic Updates
Appropriation Act (Budget): Capital expenditure remarkably increased in 2016 relative to preceding year, on the account of the present governments renewed commitment to infrastructure development.
The paper examines fiscal policy as it influences growth through taxes and service delivery. It also reviews Nigerias experience with fiscal policy as well as challenges to its current system.
Gross Domestic Product Growth Rate: The growth performance of the Oil and Gas sector has been unsteady throughout years and declined most significantly in 2015Q4, following a positive growth recorded