Macroeconomic Report & Economic Updates

March 11, 2018

Nigeria Economic Update (Issue 9)

Nigeria’s Gross Domestic Product (GDP), maintained positive growth rate two quarters after emergence from recession in 2017Q2, thus consolidating the recovery process. Specifically, real GDP grew by 1.92 percent in 2017Q4, a slight increase from the 1.40 percent in the previous quarter and a huge recovery compared to the contraction (-1.73 percent) during the corresponding […]

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Nigeria’s Gross Domestic Product (GDP), maintained positive growth rate two quarters after emergence from recession in 2017Q2, thus consolidating the recovery process. Specifically, real GDP grew by 1.92 percent in 2017Q4, a slight increase from the 1.40 percent in the previous quarter and a huge recovery compared to the contraction (-1.73 percent) during the corresponding quarter in 2016. Notably, the 2017 fiscal year recorded an annual real GDP growth rate of 0.83 percent, significantly increasing Year-on-Year by 2.41 percentage points.

 




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Export And Its Components

Export and its Components: In 2015 and 2016Q1, overall export earnings declined significantly to a record low of less than $3000 million in 2016Q1, as against the peak of above $10,000 million in 2008

Nigeria Economic Update (Issue 13)

Recent Data on Nigerias Real GDP growth rate (Year-on-Year) declined by 0.73 percentage points, from 2.84 per cent in 2015Q3 to 2.11 percent in 2015Q4. The slowdown in economic growth was largely driven by the decline in the performance of the oil sector which was occasioned by the slump in crude oil prices and the slight drop in the volume of crude oil produced. Specifically, compared to the 1.05 percent growth recorded in 2015Q3, the oil sector witnessed a negative growth of 8.28 percent in 2015Q4.

Climate Policy and Finance: Designing an Effective Carbon Pricing System for Nigeria’s Oil and Gas Sector

Carbon pricing has been recognized not only as the most efficient economic policy instruments to internalize the social cost of emissions, but also as a major tool to generate public revenues that can be used to offset the potential adverse distributional effects of climate policy. However, in many developing countries, there is a widespread reluctance to commit to climate policy, largely due to financial constraints, a lack of public support, and concern over its regressive effects.This paper makes recommendations towards the design of an effective carbon pricing system that not only discourages air pollution but also encourages the gradual uptake of climate-friendly technologies by the private sector in Nigerias oil and gas sector, while supporting public investment in sustainable infrastructures and projects that offset the distributional effect of the climate policy.