Macroeconomic Report & Economic Updates
August 19, 2016
Nigeria Economic Update (Issue 34)
Recent NBS data shows a significant decline in
power generated in 2016Q2. Precisely, power generated declined by 31 percent
(quarter on quarter) from a total quarterly average of 92,352 MWH in 2016Q1 to
63,692.39 MWH in 2016Q2. Remarkably, the reoccurrences of pipeline
vandalism in 2016Q2 prompted the shortage of gas for power generation. Thus,
there were about eight recorded system collapses in the quarter which led to
several days of power outages. However, subsequent quarterly declines in power
generation could be averted if efforts to repair vandalized pipelines and adopt
hydro sources are intensified.
Related
Nigeria Economic Review (First Half Report 2014)
Globally,
advanced economies showed strong signs of recovery during 2014H1 despite the
adverse effect of the severe winter (especially on the United States economy)
while economic activities slowed and growth was below projection in emerging
and developing economies.