Macroeconomic Report & Economic Updates

January 3, 2022

Nigeria Economic Update (Issue 48)

The World Bank, at the launch of November 2021 edition of Nigeria’s Development Update discussed the state of Nigeria’s economy and made several policy recommendations. One of the notable suggestions…

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January 1, 2022

Nigeria Economic Update (Issue 47)

The Debt Management Office (DMO) is set to issue Sovereign Sukuk bond valued between N200 – N250 billion before the end of the year. The government stated that the fund…

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December 17, 2021

Nigeria Economic Update (Issue 46)

Estimates from the Organization of Petroleum Exporting Countries (OPEC) show that Nigeria produced about 1.25 million barrels per day (mbpd) in October 2021. This is below the budgeted crude oil…

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December 13, 2021

Nigeria Economic Update (Issue 45)

The Anchor Borrowers’ Programme (ABP) was established to create economic linkages between smallholder farmers (SHFs) and reputable companies (anchors) involved in the production and processing of key agricultural commodities. Its…

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December 1, 2021

Nigeria Economic Update (Issue 44)

Nigeria external reserves exceeded US$ 40 billion on 18th November 2021 according to Central Bank of Nigeria (CBN) dataset on external reserves.2 A total of US$ 5.5 billion external reserves…

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November 26, 2021

Nigeria Economic Update (Issue 43)

The Central Bank of Nigeria (CBN) introduced the Tertiary Institutions Entrepreneurship Schemes (TIES) to promote the culture of entrepreneurship among the undergraduates and graduates of Nigerian Universities and Polytechnics. The…

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November 3, 2021

Nigeria Economic Update (Issue 42)

According to the National Bureau of Statistics (NBS), the average price of Premium Motor Spirit (PMS) commonly referred to as petrol increased by 2.36 percent year-on-year but experienced a month-on-month…

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November 1, 2021

Nigeria Economic Update (Issue 41)

Under the Nigeria Youth Investment Fund (NYIF), the Central Bank of Nigeria (CBN) as part of its development finance initiative in collaboration with the Federal Ministry of Youths and Sports…

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October 14, 2021

Nigeria Economic Update (Issue 40)

According to the Debt Management Office (DMO), there was an increase in the country’s total public debt stock in Q2 2021 from the total recorded in Q1 2021.1 The total…

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October 8, 2021

Nigeria Economic Update (Issue 39)

As part of its ongoing intervention to address food insecurity, the Central Bank of Nigeria (CBN) has disbursed a total of N798.09 billion to the Anchor Borrowers Programme (ABP) since…

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October 8, 2021

Nigeria Economic Update (Issue 38)

The Monetary Policy Committee of the Central Bank of Nigeria (CBN) retained the Monetary Policy Rate (MPR) at 11.5 percent during its 281st meeting 1. Similarly, other monetary parameters were…

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September 28, 2021

Nigeria Economic Update (Issue 37)

Data on rail transportation showed that a total of 565,385 passengers travelled via the rail system in Q2 2021. This figure, when compared to 108,238 passengers recorded in Q2 2020…

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September 24, 2021

Nigeria Economic Update (Issue 36)

 Nigeria’s merchandise trade with the rest of the world grew by 23.23 percent between Q1 2021 and Q2 20211. Similarly, year-on -year merchandise trade increased by 88.71 percent between Q2…

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September 16, 2021

Nigeria Economic Update (Issue 35)

In the second quarter of 2021, the country’s Gross Domestic Product (GDP) grew by 5.01 percent (year-on-year) in real terms, marking three consecutive quarters of growth after the negative growth…

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September 13, 2021

Nigeria Economic Update (Issue 34)

The Central Bank of Nigeria has cautioned Microfinance Banks (MFBs) against engaging in foreign exchange (forex) transactions and other prohibited activities including wholesale banking.1 According to the circular issuing this…

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September 2, 2021

Nigeria Economic Update (Issue 33)

According to the National Bureau of Statistics, the volume of Value-Added Tax (VAT) has risen from ₦496.39 billion to ₦512.25 billion between Q1 and Q2 2021, reflecting a 3.2 percent…

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