Macroeconomic Report & Economic Updates

January 15, 2018

Nigeria Economic Update (Issue 50)

In the third quarter of 2017, NBS report show that Nigeria recorded a marginal quarter-overquarter and significant Year-on-Year increases in the value (in Naira terms) of merchandise (goods) foreign trade. At N5.92 trillion, total merchandise trade increased 3.9 percent over the preceding quarter and 23.9 percent over the corresponding quarter in 2016. Specifically, with exports rising QOQ by 15.2 percent to N3.57 trillion and imports shrinking by 9.4 percent to N2.35 trillion, trade balance amounted to a surplus of N1.22 trillion in 2017Q3- a substantial 142 percentage increase (QOQ) in trade surplus value.

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Capital Importation And Gross Domestic Product Growth Rate And Contribution To GDP (Construction Sector)

Capital Importation: Capital expenditure into the construction sector remained above 10 percent since 2005 until 2015. Similar to the manufacturing sector, overall capital imported into the constructi

Nigeria Economic Update (Issue 14)

The considerable increase in inflation continued to be driven by exchange-rate-pass-through from imported items as well as the lingering scarcity in the availability of Premium Motor Spirit (PMS). One of the key ways to reduce inflationary pressures in the near term is to improve the supply of PMS to filling stations. In the medium to long term, the Nigerian National Petroleum Corporation (NNPC) may need to revitalize local refining and bridge the gap between the supply and demand for PMS by households and businesses.

Public Spending On Education And Health In Nigeria

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.

Monetary Policy Rate

Monetary Policy Rate: The fluctuations in MPR reflect CBNs intermittent effort to promote growth, stymie inflation or incentivize capital flows. Particularly, the rise in MPR in 2016Q1 was effort to