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 percent, CRR at 22.5 percent, Liquidity ratio at 30 percent and asymmetric corridor at +200 and -500 around the MPR1. A review of laudable developments in key macroeconomic indicators and positive economic growth in the first half of 2018 informed the committee’s stance to hold all rates. However, the committee noted constraints to economic growth outlook in the second half of 2018, especially slow and irregular implementation of the 2018 expansionary fiscal budget that would derail its liquidity impact, as well as possible external shocks. Going forward, there is need for a standardized budgetary calendar that should be adhered to mandatorily in order to guide public and private sector investment plan and foster economic stability
Macroeconomic Report & Economic Updates
August 20, 2018
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 percent, CRR at 22.5 percent, Liquidity ratio at 30 percent and asymmetric corridor at +200 and -500 around the MPR1. A review of laudable developments […]
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Nigeria Economic Update (Issue 17)
Power sector analysis shows a decline
in power generated by 8.5 percent from a peak of 3,675 mw to 3,362 mw between
April 3, 2016 and April 10, 20169. This record is however still
below 5,074.7 mw- the highest peak ever attained in the country. The declining
power supply which has been attributed to vandalism of pipelines and gas
shortages, has continued to distort economic activities in the country. With
the persistent fall in electricity generation, the possibility of attaining the
targeted 10,000 mw by 201910 seems unattainable. A clear strategy towards
increasing power generation and curbing vandalism is urgently needed.