Macroeconomic Report & Economic Updates
August 26, 2016
Nigeria Economic Update (Issue 36)
Power sector statistics
show a significant increase in power generated from August 12 to August 19,
2016. Precisely, power generated increased by 2.2 percent to 3953.6MW(a
4-month high). Increased water reserves in dams for hydro generating plants occasioned
by seasonal adjustments (rainy season), led to improved power generation.
Additionally, in a bid to further improve and sustain power generation, the
federal government received a $100 million credit facility from India.
However, consistent power supply could be jeopardized if the development is not
aided by improved distribution by DISCOs.
Related
Nigeria Economic Update (Issue 5)
Recently released media highlights show that Nigeria has dropped in terms of macroeconomic indicator rankings in 2018. With a headline index of 2.77, Nigeria is ranked 158th globally out of 181 countries five places lower than the previous year rankings. Indicators suggest that Nigeria is presently behind 28 other African countries, and just ahead of only 4 West African countries (Mauritania, Togo, Niger and Guinea Bissau).