Macroeconomic Report & Economic Updates

April 4, 2017

Nigeria Economic Update (Issue 11)

Recently released report by the National Bureau of Statistics (NBS) indicates price increase of selected food items for the month of February 2017, relative to January 2017. Specifically, prices of…

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March 13, 2017

Nigeria Economic Update (Issue 8)

The falling tide in the international value of Naira experienced a reversal in the review week with naira appreciating significantly by 11 percent from N516/$ on February 17, 2017 to…

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March 13, 2017

Nigeria Economic Update (Issue 9)

Crude oil prices fluctuated during the review week. OPEC weekly basket price decreased marginally from $53.63 on February 24, 2017 to $53.34 on March 3, 2017. Similarly, Brent crude declined…

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March 1, 2017

Nigeria Economic Update (Issue 6)

The nations foreign reserves have been on a steady rise. In the review week, reserves increased by $415.2 million from $28.3 billion on February 3, 2017 to $28.8 billion on…

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March 1, 2017

Nigeria Economic Update (Issue 7)

Recent domestic Crude oil statistics from the Nigerian National Petroleum Corporation (NNPC), reveals an increase in total crude oil export sales in December 2016. Relative to November 2016, total export…

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March 1, 2017

Africa Economic Update (Issue 1)

Sub-Saharan Africa experienced its worst economic performance in over two decades in 2016, with growth slowing to 1.5 percent. The poor performance in South Africa and oil exporting countries is…

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February 13, 2017

Nigeria Economic Update (Issue 5)

The Naira continued to depreciate in the review week. At the parallel market, naira exchanged for N498/$ on January 27, 2017 and N500/$ on February 3, 2017. Despite the weekly…

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February 3, 2017

Nigeria Economic Update (Issue 4)

Recently released power sector report by the National Bureau of Statistics records a total average energy generation of 2,548GWH by 25 power stations, from October 2016 to December 2016. Daily…

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February 1, 2017

Nigeria Economic Review

Global economic growth remained fairly stable in 2016Q3 with baseline projections for global growth at 3.1 percent and 2.4 percent by International Monetary Fund (IMF) and the World Bank respectively.…

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January 27, 2017

Nigeria Economic Update (Issue 3)

Provisional Monetary statistics by the CBN show an increase in currency in circulation a portion of overall money supply. Specifically, currency in circulation rose (Month-on-Month) by 14.2 percent to N2.2…

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January 23, 2017

Nigeria Economic Update (Issue 2)

Recent ranking by the World Bank, portrayed Nigeria as having a poor business environment based on the ease of doing business in 2016. Although, Nigeria moved one position forward from…

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January 13, 2017

Nigeria Economic Update (Issue 1)

The external reserve increased week-on-week by 2 percent to $26.3 billion on January 6, 2017. The increase was likely triggered by continued marginal rise in crude oil price, which moderated…

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December 20, 2016

Nigeria Economic Update (Issue 52)

Recently released population estimate figures by the Nigeria Bureau of Statistics, show a significant increase in Nigerias population, based on the 2006 census. Notably, total population grew by an estimated…

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December 13, 2016

Nigeria Economic Update (Issue 51)

Recently released data by the National Bureau of Statistics (NBS) shows that there was significant increase in Nigerias total merchandise trade for 2016Q3. Basically, the total merchandise trade increased (quarter-on-quarter)…

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December 1, 2016

Nigeria Economic Update (Issue 50)

Crude oil price experienced a mixed week from November 18 to November 25, 2016. Specifically, OPEC basket price and Brent crude price fluctuated, to a daily average of $44.6 (from…

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November 28, 2016

Nigeria Economic Update (Issue 49)

Nigerias Petroleum Products Imports statistics show a gradual reduction in the volume and value of petroleum imports (PMS, AGO, HHK) between May and September 2016. Specifically, volume of imports declined…

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