Author: Eddy Akpabio

Nigeria Economic Update (Issue 12)

As of the end of December 2022, Nigeria’s total debt stock stood at N46.25 trillion, comprising 40.4 percent (N18.7 trillion) in external debt and 59.56 percent (N27.55 trillion) in domestic debt, according to data from the Debt Management Office (DMO)1 . This represents a N6.69 trillion (16.9 percent) increase over the N39.56 trillion recorded for […]

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Nigeria Economic Update (Issue 11)

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN), in its 147th meeting, has raised the Monetary Policy Rate (MPR) to 18 percent.1 This represents an increase of 50 basis points from the previous MPR of 17.5 percent. The apex bank attributes this sixth consecutive increase in the MPR since April 2022 […]

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Socioeconomic costs of tobacco use and caregivers burden: implications for comprehensive tobacco control

Tobacco use kills primary and secondary smokers. While 7 million primary smokers die annually from tobacco use, more than 1.2 million non-smokers also die annually from being exposed to second-hand smoke[1]. Tobacco contains many cancer-causing toxins that harm every organ of the body. Smoking tobacco introduces nicotine and other chemicals, including numerous carcinogens, into the […]

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Nigeria Economic Update (Issue 50)

Data from the Nigeria Inter-Bank Settlement Systems (NIBSS) shows that transactions performed electronically through the NIBSS Instant Payment platform (NIP) in Nigeria grew to N38.9 trillion in November 2022, which is 12.7 percent higher than the N34.5 trillion recorded in October 20222. On a year-on-year (YoY) basis, the N38.9 trillion value of e-payments increased 50 […]

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Agricultural Development Financing and Food Inflation in Nigeria: What the Government may need to do differently

Over the years, the Nigerian government has deployed development financing initiatives to boost food production through increased access to finance for farmers and other small businesses in the sector. While progress may have been made in some areas, the country is still at a critical juncture, as access to food and its affordability remain a […]

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Nigeria Economic Update (Issue 49)

The Central Bank of Nigeria (CBN) announced a new policy on cash withdrawals on 6th December 2022.2 According to the policy, the maximum weekly withdrawal over the counter is set at N100,000 for individuals and N500,000 for organizations. Any withdrawal above these limits shall attract processing charges of 5 percent and 10 percent, respectively. In addition, withdrawals […]

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Why Nigeria should Strengthen Mobile Money: Some Stylized Facts

Nigeria continues to miss its financial inclusion targets. Many constraints around the formal banking system have meant that a greater percentage of the Nigerian population remains excluded from the formal financial sector. This article highlights the need to strengthen mobile money as a means of driving financial inclusion in Nigeria. Introduction The financial sector plays […]

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Nigeria Economic Update (Issue 48)

According to the Food Prices Watch by the National Bureau of Statistics (NBS), the average price of some selected food items in the country rose in October 2022.1 The report showed that the average price of a 500g loaf of sliced bread rose year-on-year by 36.7% to N523.2 in October 2022. Also, 1kg of rice […]

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Employment Creation Potential of Industries Without Smokestacks: A Nigeria Case Study

This report examines the potential for industries without smokestacks (IWOSS) in creating large-scale job opportunities in Nigeria, particularly for the young and female population subgroups. With the emergence of technology and shifts in the global economy, the relevance of some industries in economic development have increased. These industries are codified as IWOSS. IWOSS are sectors […]

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The Need for Africa’s Active Role in the Global Digital Governance Environment

Globally, a plethora of rich and stimulating conversations are currently taking place around the emerging institution of digital governance, reinforcing the  fact that digital governance is inextricably linked to development. A lot of intercontinental initiatives aimed at promoting data and its governance have substantially presented data as ‘the new oil’ that unmistakably drives global transformation. […]

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Nigeria Economic Update (Issue 47)

The latest monthly oil market report (MOMR) of the Organisation of Petroleum Exporting Countries (OPEC) indicates that Nigeria’s crude oil production increased from 938 thousand barrels per day (tb/d) in September to 1,014 tb/d in October 2022.1 The increase is coming a few weeks after the federal government launched full-blown combat against oil theft in […]

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Nigeria Economic Update (Issue 46)

The National Bureau of Statistics, in its latest National Multidimensional Poverty Index Report, shows that 62.9 percent of Nigerians are multi-dimensionally poor, which translates to 132.93 million Nigerians.3 The Multidimensional Poverty Index provides a multivariate form of poverty assessment based on fifteen indicators that describe deprivations across health, education, living standards, work, nutrition, and shocks. […]

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Nigeria Economic Update (Issue 45)

Total revenue and income generation by the rail sector dipped significantly in Q2 2022, according to the latest rail transport statistics published by the National Bureau of Statistics (NBS). The report shows that aggregate revenue generated by the sector dropped by over 200 percent. It decreased from about N2.2 billion in Q1 2022 to about N734.5 million […]

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CSEA participates in the 14th Africa Policy Circle Conference

The 14th Africa Policy Circle conference was held in Lagos, Nigeria on the 17th and 18th of November 2022. This year’s theme, “Africa in the 2020s And Beyond-Challenges and Possibilities”, provided a platform for participants drawn from think tanks across Africa to unpack some of the critical challenges affecting the continent’s possibilities of economic recovery and ethical and political […]

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CSEA organizes a conference on the Quest for Improved Data Governance in Africa

On November 16 and 17, 2022, CSEA convened experts from the data space in Accra, Ghana, for the conference tagged “The Quest for Improved Data Governance in Africa: Lessons on Regulating to Foster Innovation and Growth”. Participants at the event included the Head of Ghana Statistical Service, as well as other experts on data issues from the University of Ghana, IEA […]

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CSEA organized a training session on Debt Sustainability Analysis in Africa

CSEA organized an interactive training session on Debt Sustainability Analysis on the 17th of November 2022 at the African School of Economics (ASE), Abuja. The training was conducted by Owen Wilcox, a principal consultant at Oxford Policy Management and former director of the South African Treasury.   The training was in two sessions which covered […]

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