Publications
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…
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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…
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COVID-19 fiscal policy response and climate change action in Africa
This paper analyses the fiscal policy measures adopted by African countries in response to COVID-19 and how these impact progress on their climate change actions of the countries. Specially, it…
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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…
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Nigeria Economic Update (Issue 41)
Under the Nigeria Youth Investment Fund (NYIF), the Central Bank of Nigeria (CBN) as part of its development finance initiative in collaboration with the Federal Ministry of Youths and Sports…
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Health Burden and Economic Costs of Tobacco Smoking in Nigeria
Globally, tobacco consumption continues to cause a huge burden of preventable diseases. Nigeria has been leading tobacco markets in Africa and the absolute number of active smokers remains one of…
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Counting the costs: the diverse impact of the pandemic in sub-Saharan Africa
About 30 million Africans were pushed into extreme poverty in 2020 as a result of the pandemic and it is estimated that about 39 million Africans could fall into extreme…
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Nigeria Economic Update (Issue 40)
According to the Debt Management Office (DMO), there was an increase in the country’s total public debt stock in Q2 2021 from the total recorded in Q1 2021.1 The total…
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COVID-19: How Can The G20 Address Debt Distress In SSA?
The Covid-19 pandemic occurred at a time when sovereign debt had already increased substantially in Sub-Saharan Africa (SSA). Between 2010-2017, government debt as a share of GDP averaged 34.5% in…
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Nigeria Economic Update (Issue 39)
As part of its ongoing intervention to address food insecurity, the Central Bank of Nigeria (CBN) has disbursed a total of N798.09 billion to the Anchor Borrowers Programme (ABP) since…
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Nigeria Economic Update (Issue 38)
The Monetary Policy Committee of the Central Bank of Nigeria (CBN) retained the Monetary Policy Rate (MPR) at 11.5 percent during its 281st meeting 1. Similarly, other monetary parameters were…
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Nigeria Economic Update (Issue 37)
Data on rail transportation showed that a total of 565,385 passengers travelled via the rail system in Q2 2021. This figure, when compared to 108,238 passengers recorded in Q2 2020…
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Nigeria Economic Update (Issue 36)
Nigeria’s merchandise trade with the rest of the world grew by 23.23 percent between Q1 2021 and Q2 20211. Similarly, year-on -year merchandise trade increased by 88.71 percent between Q2…
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Nigeria Economic Update (Issue 35)
In the second quarter of 2021, the country’s Gross Domestic Product (GDP) grew by 5.01 percent (year-on-year) in real terms, marking three consecutive quarters of growth after the negative growth…
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Nigeria Economic Update (Issue 34)
The Central Bank of Nigeria has cautioned Microfinance Banks (MFBs) against engaging in foreign exchange (forex) transactions and other prohibited activities including wholesale banking.1 According to the circular issuing this…
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Nigeria Economic Update (Issue 33)
According to the National Bureau of Statistics, the volume of Value-Added Tax (VAT) has risen from ₦496.39 billion to ₦512.25 billion between Q1 and Q2 2021, reflecting a 3.2 percent…
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