Macroeconomic Report & Economic Updates
Nigeria Economic Update (Issue 44)
At N4,401.91 billion or 7.7 per cent of GDP, gross federally collected revenue for the first half of 2018 was 33.7 percent below the proportionate budget estimates but 47.1 percent…
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Nigeria Economic Update (Issue 43)
The CBN quarterly consumer expectation survey shows that consumers expressed optimism as outlook for the third quarter of 2018 was positive. Relative to 2018Q2, consumer index increased from -6.3 index…
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Nigeria Economic Update (Issue 42)
The recent compilation of Gross Domestic Product (GDP) at sub-national level by the NBS provides estimates for eleven states for a five-year period covering 2013-2017. The eleven states covered, contributed…
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Nigeria Economic Update (Issue 41)
The World Bank’s recently unveiled Human Capital Index ranks Nigeria at 152nd position out of the 157 countries surveyed, with a value of 0.34. Nigeria is placed below several other…
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Nigeria Economic Update (Issue 40)
The World Bank’s recent Africa Pulse publication reveals a revised 2018 growth rate forecast for Nigeria from the earlier projected 2.1 percent to 1.9 percent1 – representing a slight downward…
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Nigeria Economic Update (Issue 39)
Nigeria’s all products terms of trade (calculated as the receipts of exports as a percentage of payments for imports), indicated increases in the three months of 2018Q2. Indexed at an…
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Nigeria Economic Update (Issue 38)
The 2017 budget implementation report shows a paltry average performance in 2017, compared to the projections contained in the budget. The actual oil and non-oil revenue generated were N1.1 trillion…
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Nigeria Economic Update (Issue 37)
The recent report by United Nations Development Programme (UNDP) shows that Nigeria’s Human Development Index (HDI) value rose very marginally from 0.530 in 2016 to 0.532 in 20171. However, overall,…
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Nigeria Economic Update (Issue 36)
Total value of Nigeria’s merchandise trade contracted in 2018Q2. Valued at N6.6 trillion1, total trade fell quarter-on-quarter by 8.9 percent from the N7.2 trillion recorded in the previous quarter. Both…
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Nigeria Economic Update (Issue 35)
Latest data from the CBN shows that Nigeria’s external reserves fell significantly in August 2018. As at the end of July, the reserve stood at $47.11 billion; it dropped to…
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Nigeria Economic Update (Issue 34)
Total capital imported into Nigeria declined in 2018Q2, compared to 2018Q1 – the first quarterly decline since 2017Q1. At $5.5 billion in 2018Q21, capital importation dropped by 12.5 percent from…
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Nigeria Economic Update (Issue 33)
Media highlights suggest that leading manufacturers quoted in the Nigerian Stock Exchange, NSE, which operate across sectors have recorded significant upsurge of 20.2 percent in their operating expenses, OPEX, in…
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Nigeria Economic Update (Issue 32)
Nigeria’s infrastructure stock, comprising of roads, water-ways, seaports, airports, etc, increased slightly albeit a slower pace in recent years. At an estimated 35 percent of GDP in 2018, infrastructure stock…
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Nigeria Economic Update (Issue 31)
Data from the NBS on mining and quarrying in Nigeria show an increase in the quantity of solid minerals produced in 2017. Precisely, Nigeria produced 45.75 million tons of solid…
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Nigeria Economic Update (Issue 30)
For the 12th consecutive period, the Monetary Policy Committee voted to retain all rates at the end of the policy meeting held on July 23-24, 2018 – MPR at 14…
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Nigeria Economic Update (Issue 29)
The IMF retained its 2.1 percent forecast of Nigeria’s GDP growth rate for 2018, while increasing the 2019 projected GDP growth rate to 2.3 percent1, from 1.9 percent projected earlier.…
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