Macroeconomic Report & Economic Updates
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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Nigeria Economic Update(Issue 9)
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN), in its 293rd meeting held on the 27th of February, raised the Monetary Policy Rate (MPR) by 400…
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Nigeria Economic Update (Issue 8)
In its recent CPI and Inflation report, the National Bureau of Statistics (NBS) revealed that Nigeria’s inflation rate increased to 29.90 percent in January 2024, a 0.98 percentage points rise from…
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Nigeria Economic Update(Issue 7)
The Central Bank of Nigeria (CBN) has halted quasi-fiscal measures totalling over 10 trillion naira. The finance was issued by the CBN previously as development finance interventions. The cessation of…
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Nigeria Economic Update (Issue 6)
The Central Bank of Nigeria (CBN) has revealed, in its data on movement on gross foreign reserves, that the country’s foreign reserves, which were $37.1 billion as of January 3,…
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Nigeria Economic Update (Issue 5)
The International Monetary Fund (IMF) in its World Economic Outlook Update released in January 2024, estimated that Nigeria grew at 2.8 percent in 2023 and reviewed its 2024 economic growth…
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Nigeria Economic Update (Issue 4)
The Oil market report for the fourth quarter of 2023 by the International Energy Agency indicates that thegrowth of global oil demand is expected to slow down by 1.2 million barrels per…
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The National Bureau of Statistics (NBS), in its Consumer Price Index (CPI) and Inflation report for December 2023, revealed that Nigeria’s headline inflation rate rose to 28.92 percent. On a…
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Nigeria Economic Update (Issue 2)
According to the 2024 United Nations World Economic Situation and Prospects report, global GDP growth is projected to slow from an estimated 2.7 percent in 2023 to 2.4 percent in…
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Nigeria Economic Update (Issue 1)
According to the National Bureau of Statistics (NBS), capital importation to Nigeria in Q3 2023 stood at $654.65 million, indicating a 36.45 percent decline from $1.03 billion recorded in Q2 2023 and…
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Nigeria Economic Update (Issue 49)
In its latest Nigeria Development Update, the World Bank revealed that 24 million Nigerians had been pushed below the poverty line in 5 years – between 2018 and 2023. In tandem,…
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