Macroeconomic Report & Economic Updates
Nigeria Economic Update (Issue 23)
A recently released CBN report indicates a weakened business outlook of -66.2 points for the month of May. The agriculture and service sectors are the worst hit, recording a decline…
Download ↓ Read →Nigeria Economic Update (Issue 22)
Foreign capital imported into Nigeria increased by 53.97 percent from US$3.8 billion in the fourth quarter of 2019 to US$5.85 billion in the first quarter of 2020. This rise was…
Download ↓ Read →Nigeria Economic Update (Issue 21)
A recently released NBS report indicated a 20.92% rise in Internally Generated Revenue (IGR) in 2019. The year on year rise saw total IGR hit ₦1.33 trillion. The rise was…
Download ↓ Read →Nigeria Economic Update (Issue 20)
According to the Central Bank of Nigeria, the primary market recorded a rise in interest rates for the first time in 3 months. The rise was recorded in the recent…
Download ↓ Read →Nigeria Economic Update (Issue 19)
The recent NBS survey found that 40.1% – 82.9 million – Nigerians are living in poverty with the national poverty line estimated at ₦137,430per year 1. As such, 4 out…
Download ↓ Read →Nigeria Economic Update (Issue 18)
he International Monetary Fund (IMF) recently announced the approval of $3.4 billion emergency support to Nigeria under its Rapid Financing Instrument (RFI) facility1. This support fund comes as part of…
Download ↓ Read →Nigeria Economic Update (Issue 17)
The total direct remittance inflow into Nigeria has declined considerably, falling by 50% from US$2.04 billion to US$1.01 billion between January and February 20201. This is significantly lower than 2019…
Download ↓ Read →Nigeria Economic Update (Issue 16)
The recent World Economic Outlook (WEO) report released by the International Monetary Fund (IMF) reveals that Nigeria’s economy will contract to -3.4% in 2020, falling from 2.2% projected in 2019.1…
Read →Nigeria Economic Update (Issue 15)
The International Labor Organization (ILO) recently released a report which highlights global trends of employment. The report noted that the sub-Saharan African region which is characterized by high informal employment…
Download ↓ Read →Nigeria Economic Update (Issue 14)
The Federation Account Allocation Committee (FAAC) disbursed the sum of ₦647.35 billion to the federal, state and local of governments in February which is 9.6 percent lower than the ₦716.30…
Download ↓ Read →Nigeria Economic Update (Issue 13)
The manufacturing sector PMI declined from 58.3 points to 51.1 points between February and March 20201. The slowdown was triggered by reduced growth in 7 subsectors including electrical equipment, chemical…
Download ↓ Read →Nigeria Economic Update (Issue 12)
Between January and February, Nigeria’s external reserves declined from US$37.2 billion to $35.5 billion, its lowest in over 2 years1. Although the reserve level remains above the $30 billion benchmark…
Download ↓ Read →Nigeria Economic Update (Issue 11)
The Central Bank of Nigeria (CBN) has taken steps to ensure financial stability amid the COVID-19 pandemic. The steps include a reduction of interest rates for all CBN interventions from…
Download ↓ Read →Nigeria Economic Update (Issue 11)
Foreign capital imported to Nigeria declined by 32% from US$5.6 billion to US$3.8 billion between Q3 and Q4 2019, indicating a decline for the third consecutive quarter1. The decline during…
Download ↓ Read →Nigeria Economic Update (Issue 10)
In its worst performance since the 2008 financial crisis, the NSE All-Share Index and market capitalization depreciated by 13.49% to close the week at 22,733.35 basis points and N11.847 trillion…
Download ↓ Read →Nigeria Economic Update (Issue 9)
The Nigerian Stock Exchange All Share Index and market capitalisation declined by 4.28% to close the week at 26,216.46 and N13.658 trillion respectively4. This rise was primarily driven by the…
Read →