For the 12th consecutive period, the Monetary Policy Committee voted to retain all rates at the end of the policy meeting held on July 23-24, 2018 – MPR at 14 percent, CRR at 22.5 percent, Liquidity ratio at 30 percent and asymmetric corridor at +200 and -500 around the MPR1. A review of laudable developments in key macroeconomic indicators and positive economic growth in the first half of 2018 informed the committee’s stance to hold all rates. However, the committee noted constraints to economic growth outlook in the second half of 2018, especially slow and irregular implementation of the 2018 expansionary fiscal budget that would derail its liquidity impact, as well as possible external shocks. Going forward, there is need for a standardized budgetary calendar that should be adhered to mandatorily in order to guide public and private sector investment plan and foster economic stability
Macroeconomic Report & Economic Updates
August 20, 2018
Nigeria Economic Update (Issue 30)
For the 12th consecutive period, the Monetary Policy Committee voted to retain all rates at the end of the policy meeting held on July 23-24, 2018 – MPR at 14 percent, CRR at 22.5 percent, Liquidity ratio at 30 percent and asymmetric corridor at +200 and -500 around the MPR1. A review of laudable developments […]
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Issues In Fiscal Policy Management Under The Economic Reforms
This paper was produced as part of a larger project which was jointly financed by the UKDepartment for International Development in Nigeria (through its Policy and Knowledge facility)and the Research Committee of the World Bank.
Nigeria Economic Update (Issue 49)
Nigerias
Petroleum Products Imports statistics show a gradual reduction in the volume
and value of petroleum imports (PMS, AGO, HHK) between May and September 2016. Specifically,
volume of imports declined by 34.1 percent for PMS, 37.6 percent for AGO, and
60.3 percent for HHK in the period.The significant decline in
imports in the reporting periods may be as a result of persistent forex
scarcity issues faced by importers. On account of stagnation in
domestic production of refined petroleum products, continuous
decline in oil imports may create a demand gap with upward pressure on gasoline
prices in the economy.