Macroeconomic Report & Economic Updates
Nigeria Economic Update (Issue 23)
According to the National Bureau of Statistics (NBS) report on value-added tax (VAT), in Q1 2024,Nigeria realised N1.43 trillion in revenue from VAT,representing a quarter-on-quarter growth rate of 19.21% from…
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Nigeria Economic Update (Issue 22)
n May 2024, Oil production in Nigeria dropped by 30,000 barrels per day (bpd) to 1.25 million bpd, according to OPEC’s latest report. This decline puts Nigeria even further behind OPEC’s…
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Nigeria Economic Snapshot (June 2024)
This snapshot for June 2024 provides trends, and insights on key macroeconomic indicators such as Inflation, foreign reserves, currency in circulation and crude oil prices.
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Nigeria Economic Update (Issue 21)
In its latest report, the National Bureau of Statistics (NBS) indicated that the national average cost of ahealthy diet (CoHD) for April 2024 has risen to N1,035 per day, representing a 5.4%…
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Nigeria Economic Update (Issue 20)
According to the National Bureau of Statistics (NBS), Nigeria’s Gross Domestic Product (GDP) grew by 2.98 percent in Q1 2024, a decrease of 0.48 percentage points from the 3.46 percent growth rate…
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Nigeria Economic Update (Issue 19)
According to the latest consumer price index (CPI) and inflation report by the National Bureau of Statistics(NBS), Nigeria’s headline inflation has surged to 33.69%. This reflects a 0.49% points increase from theprevious month’s…
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Nigeria Economic Update (Issue 18)
According to the most recent Cadre Harmonise (CH) report released by the International RescueCommittee (IRC), in collaboration with other international organizations, 16% of Nigerians (approximately 31.8 million persons) are expected…
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Nigerian Economic Update (Issue 17)
The continuous increase in food inflation now at 40.2% has further worsened the welfare of Nigerians, as food becomes more expensive. The latest Selected Food Prices Watch for March 2024 by the…
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Nigeria Economic Snapshot (May 2024)
This snapshot for May 2024 provides trends, and insights on key macroeconomic indicators such as Inflation, foreign reserves, currency in circulation and crude oil prices.
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Nigerian Economic Update (Issue 16)
The Central Bank of Nigeria (CBN), in a recent letter, has announced the reduction of the Loan-to-Deposit Ratio (LDR) of commercial banks from 75 percent to 50 percent, indicating a decline…
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Nigeria Economic Update (Issue 15)
According to the NBS latest labour survey, a total of 617,503 individuals were subjected to forced labour in their current job in 2022. This translates to a prevalence rate of…
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Nigeria Economic Update (Issue 14)
According to the Nigeria Electricity Report for Q4 2023, revenue collected by the DISCOs during the period was N294.95 billion, an increase from N260.16 billion in Q3 2023. The increment in revenue…
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Nigeria Economic Update (Issue 13)
The latest report on the Cost of a Healthy Diet (CoHD) in Nigeria by the NBS shows that the national average cost of a healthy diet rose to N938 per…
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Nigeria Economic Update (Issue 12)
In its recent Money and Credit statistics, the Central Bank of Nigeria (CBN) revealed that bank’s credit to the private sector increased month-on-month (MoM) by 5.99 percent from N76.29 trillion in…
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Nigeria Economic Update (Issue 11)
Nigeria’s external reserves rose slightly to $34.49 billion on March 21, 2024. The increment could be attributed to multiple factors including inflow of foreign capital and an increase in global…
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Nigeria Economic Update (Issue 10)
The recent Foreign Trade in Goods Statistics released by the National Bureau of Statistics (NBS) shows that Nigeria recorded a trade deficit of N1.41 trillion in the fourth quarter of…
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