Nigeria Economic Update (Issue 39)

PUBLICATIONS MACROECONOMIC REPORT & ECONOMIC UPDATES Oct 12, 2016

Nigeria Economic Chart Pack (2016H1)

The Nigeria Economic Chart Pack is a graphical display of relevant and periodic data to capture trends in the domestic economy. The report aims to illustrate the changes in economic trends with the aid of descriptive charts and a short note that describes the trend and drivers for the graphs.

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PUBLICATIONS MACROECONOMIC REPORT & ECONOMIC UPDATES Oct 06, 2016

Nigeria Economic Update (Issue 42)

The NSE market indices recorded a bear market rally for the third consecutive week in September. Specifically, All-share index and Market Capitalization increased marginally by 0.31 percent to close at 28,335.40 points and N9.73 trillion respectively on September 30, 2016. Major drivers of the rally include; increased trade-volume of financial, agricultural and consumer-goods securities. The continued rise in market indices may be connected to a sustained investor confidence in the agricultural and financial sectors on the account of the ongoing activities of the government and the CBN to stabilize the sectors.

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PUBLICATIONS MACROECONOMIC REPORT & ECONOMIC UPDATES Oct 04, 2016

Nigeria Economic Update (Issue 41)

The naira continued its downward trajectory in the review week. Specifically, naira depreciated significantly at the parallel segment by 3.5 percent to a record low of N440/$ on September 23, 2016. Notably, this was driven by the worsening liquidity constraints at the interbank market which left the excess forex demand to be sourced at the parallel market, and thus exerted downward pressure on the naira. The naira is likely to further weaken given that most of the liquidity constraints are exogenously determined and thus forex supply will likely remain subdued by its demand.

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PUBLICATIONS MACROECONOMIC REPORT & ECONOMIC UPDATES Oct 04, 2016

Nigeria Economic Update (Issue 40)

OPEC weekly basket price declined by 2.4 percent to $42.68/barrel on September 16, 2016. This was triggered by a rise in US oil reserve, amid an outlook on weak global oil demand. Similarly, provisional data by OPEC reveals a steady decline in Nigerias crude oil production. Notably, production declined by 3.4 percent to 1.47 mbd in August, 2016.

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PUBLICATIONS MACROECONOMIC REPORT & ECONOMIC UPDATES Sep 16, 2016

Nigeria Economic Update (Issue 39)

Nigerias external reserve fell marginally by from $25.36 billion to $25.16 billion. The decline likely reflects the continued sales of dollar by CBN amid fall in oil revenue. Similarly, the naira/dollar exchange rate depreciated marginally by 0.5 percent to N424/$ at the parallel segmentas also seen in preceding weeks. The continued depreciation likely points to banks low level compliance to CBNs dollar sales directive made in August, 2016, thus creating artificial dollar scarcity in the parallel market.

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