Macroeconomic Report & Economic Updates
July 14, 2016
Nigeria Economic Update (Issue 30)
Power sector analysis shows an increase in
power generated by 3.01 percent from 2903.5mw to 2991.8mw between July 1, 2016
and July 8, 2016, with a peak of 3260.8mw on July 5, 2016. This is
however, still below the highest (5074.7mw) recorded in February, 2016. The
increase reflects improved use of hydro (water) for power generation.
The easing out of gas constraint occasioned by recent pipeline repairs have
also contributed to the increase in power generation. Improvements in power
generation would be sustained if hydro measures are complemented with
fast-tracked repairs on damaged gas channels and intensified efforts at
tackling pipeline sabotage.
Related
Nigeria Economic Update (Issue 5)
Recently released media highlights show that Nigeria has dropped in terms of macroeconomic indicator rankings in 2018. With a headline index of 2.77, Nigeria is ranked 158th globally out of 181 countries five places lower than the previous year rankings. Indicators suggest that Nigeria is presently behind 28 other African countries, and just ahead of only 4 West African countries (Mauritania, Togo, Niger and Guinea Bissau).