August 3, 2015
Volume 2 July 2014
Gross Federally Collected Revenue: Both oil and non-oil components of gross federal revenue fell below N40 billion in 2016, after recording a peak of N90 billion in 2013. The decline was most prominen
Recent data on Nigerias labour market points to a rise in the rate of unemployment and underemployment in 2015Q4. Specifically, compared to 2015Q3, the rate of unemployment and underemployment rose to 10.4 per cent and 18.7 per cent from 9.9 percent and 17.4 percent respectively. These statistics however masks the true situation of the youth employment in Nigeria. Disaggregated data by age category shows that unemployment and underemployment within the youth age category (15-24) was remarkably higher than the national average, at 19 and 34.5 per cent respectively.
The All-Share index (ASI) and Market Capitalization both depreciated (week-on-week) by 1.45 percent for the second consecutive trading week- June 3, 2016 to June 10, 20166. ASI depreciated by 401.8 points from 27,634.42 points to 27,232.62 points, while Market Capitalization declined by N140billion from N9.49 trillion closing the week at N9.35 trillion. All other indices declined, with the exception of NSE ASem Index, NSE Insurance Index, and NSE oil/Gas Index. The delay in the implementation of proposed forex policy continues to adversely affect stock market performance. However, with growing speculations that the new FOREX guidelines would be released in the succeeding week, market indices could perform better subsequently. Hence, monetary authorities should ensure the timely release and implementation of the new FOREX policy to boost investors confidence in the near term and ensure price stability in the capital market.