Nigeria’s economy has shown sustained signs of recovery. Real GDP growth rate rose Year-on-Year by 2.38 percent in 2018Q4, as against 1.81 percent recorded in the preceding quarter – an increase of 0.57 percentage points.1 Non-oil sector remained the focal point for the economic expansion – growth in the sector’s activities improved to 2.7 percent from 2.3 percent and contributed approximately 93 percent to real GDP. The numbers unveil key high-performing non-oil activities during the quarter, with services manufacturing, and agriculture leading the pack. Going forward, the economy is expected to continue registering positive growth following a more stable political economy. However, inadequate credit among other factors may hinder the non-oil sector from scaling. The CBN may consider revising the banking regulations to include loan quotas for sectors with high growth and revenue-generating potential.
Macroeconomic Report & Economic Updates
The Nigeria Economic Chart Pack is a graphical display of relevant and periodic data to capture trends in the domestic economy. The report aims to illustrate the changes in economic trends with the aid of descriptive charts and a short note that describes the trend and drivers for the graphs.
African countries have been left out of the recent benefits accruing from international trade. For example, they accounted for only 3.2 percent of world trade in 2013 compared to 5 percent in the mid-1960s. Regional integration can reverse this weak performance as it holds the promise for countries to gain from the resultant economies of scale and enhanced competitiveness. It will also help to expand the markets for foreign direct investment.
All-Share Index: In 2016Q1, the decline in ASI was driven by declines in Banking, Insurance, Consumer goods, Oil/Gas, Lotus Islamic, Industrial, AseM, Pension and Premium NSE indices. However, the ASI