Macroeconomic Report & Economic Updates

March 1, 2022

Nigeria Economic Update (Issue 7)

The NBS report shows that the average retail price paid by consumers for premium motor spirit (petrol) slightly increased to N166.40 per litre in January 2022 from N 164.09 per…

Download ↓ Read →

February 21, 2022

Nigeria Economic Update (Issue 6)

A report on the telecommunications sector released by the National Bureau of Statistics shows that in Q4 2021, a total of 195.4 million subscribers were active on voice compared to…

Download ↓ Read →

February 15, 2022

Nigeria Economic Update (Issue 5)

The CBN, in a recent circular to all banks and other financial institutions communicated an amendment to the Global Standing Instruction (GSI).3 The initial GSI which was introduced in July…

Download ↓ Read →

February 9, 2022

Nigeria Economic Update (Issue 4)

The Monetary Policy Committee of the Central Bank of Nigeria (CBN) retained the Monetary Poli-cy Rate (MPR) at 11.5 percent, as well as all other monetary parameters, at the first…

Download ↓ Read →

February 8, 2022

Nigeria Economic Update (Issue 3)

On behalf of the Federal Government, the Debt Management Office (DMO) issued a N250 billion sovereign sukuk bond between the 16th and 23rd of December 2021, with a 346 percent…

Download ↓ Read →

February 3, 2022

Nigeria Economic Update (Issue 2)

According to the National Bureau of Statistics (NBS), Nigeria’s headline inflation rate increased on a month-on-month basis, from 15.40 percent in November 2021 to 15.63 percent in December 20211. This…

Download ↓ Read →

January 24, 2022

Nigeria Economic Update (Issue 1)

The Nigerian National Petroleum Company (NNPC) Limited remitted N511.7 billion to the federation account between January and October 2021, against the projected sum of N2.09 trillion, resulting in a shortfall…

Download ↓ Read →

January 22, 2022

Nigeria Economic Update (Issue 50)

The Nigerian National Petroleum Company (NNPC) Limited remitted N511.7 billion to the federation account between January and October 2021, against the projected sum of N2.09 trillion, resulting in a shortfall…

Download ↓ Read →

January 21, 2022

Nigeria Economic Update (Issue 49)

According to the National Bureau of Statistics (NBS) latest report on Value-Added Tax (VAT), there was a 17.8 percent year-on-year increase in VAT revenue in Q3 2021. However, on a…

Download ↓ Read →

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…

Download ↓ Read →

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…

Download ↓ Read →

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…

Download ↓ Read →

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…

Download ↓ Read →

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…

Download ↓ Read →

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…

Download ↓ Read →

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…

Download ↓ Read →