Media highlights suggest that leading manufacturers quoted in the Nigerian Stock Exchange, NSE, which operate across sectors have recorded significant upsurge of 20.2 percent in their operating expenses, OPEX, in the first half of 2018. Specifically, compared to the corresponding half-year in 2017, costs incurred rose from N194.6 billion to N233.9 billion in 2018H11. The firms also operated on short term borrowings of N101 billion, up by 1.8 percent in 2017. The rising expenses may be at the backdrop of general rise in cost of: products distribution, running campaigns and innovations, and brand marketing in a bid to increase sales volume. To reduce operating expenses and support non-oil sector growth which is yet to pick up, there is need for the government to quickly implement Focus Lab projects.
Macroeconomic Report & Economic Updates
September 3, 2018
Nigeria Economic Update (Issue 33)
Media highlights suggest that leading manufacturers quoted in the Nigerian Stock Exchange, NSE, which operate across sectors have recorded significant upsurge of 20.2 percent in their operating expenses, OPEX, in the first half of 2018. Specifically, compared to the corresponding half-year in 2017, costs incurred rose from N194.6 billion to N233.9 billion in 2018H11. The […]
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Nigeria Economic Update (Issue 48)
Data released by the National Bureau of Statistics shows that Internally Generated Revenue by states increased in 2017H1. The IGR increased from N392.1 billion in 2016H1, to N396.9 billion in 2017H1, a slight 1.2 percentage half Year-on-year growth. Also, N149.5 billion was generated in 2017Q3. Lagos state remains top in internal revenue generation, with a significant 42.3 percent share of total IGR in the review half year. The improvements in IGR may be attributable to efficient revenue collection by each reported state from the various sources of internal revenue: taxes, fines and fees, licenses, earnings & sales, rent on government property, interests and dividends, among others.