Macroeconomic Report & Economic Updates

March 10, 2018

Nigeria Economic Update (Issue 10)

The national accounts for 2017Q4 show that the aviation sector grew year-on-year by 4.7 percent in real terms – significantly higher than the 0.48 percent in preceding quarter but significantly lower than the 13.3 percent in the corresponding quarter of 2016 Drawing from the data recently provided by the NBS, it can be inferred that […]

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The national accounts for 2017Q4 show that the aviation sector grew year-on-year by 4.7 percent in real terms – significantly higher than the 0.48 percent in preceding quarter but significantly lower than the 13.3 percent in the corresponding quarter of 2016 Drawing from the data recently provided by the NBS, it can be inferred that the increase in the number of both domestic and international passenger traffic in the fourth quarter (by 4.9 percent YOY to 3.7 million passengers) may have partly driven the YOY real growth in the sector. This is in addition to remarkable increases in aircrafts and mail movements – by 4.6 percent and 229.6 percent respectively.




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Nigeria Economic Update (Issue 7)

External reserve dropped slightly by 0.6 per cent from $28.35 billion in January 22 to $28.19 billion in January 295. Considering the continuous decline, government has stepped up efforts towards financing the deficit in the proposed budget through borrowing. At the forex market, the official exchange rate remained unchanged at N197/$ while the naira depreciated at the parallel market by 2.36 percent from N297/$ to N304/$ between January 22 and 296. Despite the huge spread between the official and parallel market exchange rates, the monetary authorities maintained its fixed exchange rate regime at the official forex market. It is expected that if the demand pressure for dollar persists, the value of naira may decline in the near term.

The Role Of Fiscal Policy In Promoting Growth

The paper examines fiscal policy as it influences growth through taxes and service delivery. It also reviews Nigerias experience with fiscal policy as well as challenges to its current system.