Macroeconomic Report & Economic Updates

October 17, 2018

Nigeria Economic Update (Issue 40)

The World Bank’s recent Africa Pulse publication reveals a revised 2018 growth rate forecast for Nigeria from the earlier projected 2.1 percent to 1.9 percent1 – representing a slight downward review. The revision was premised around what the institution termed “sluggish growth” amid rising debts, and a myriad of factors including declining oil production, disruptions […]

Download Label
March 13, 2018 - 4:00 am
application/pdf
951.14 kB
v.1.7 (stable)
Read →

The World Bank’s recent Africa Pulse publication reveals a revised 2018 growth rate forecast for Nigeria from the earlier projected 2.1 percent to 1.9 percent1 – representing a slight downward review. The revision was premised around what the institution termed “sluggish growth” amid rising debts, and a myriad of factors including declining oil production, disruptions in agricultural activities occasioned by the incessant herdsmen and farmers clashes, and effects of climate change. The contraction in the agricultural sector stalled crop production and dampened prospects of increased non-oil growth, all of which stunted economic recovery2. With the continued implementation of the Economic Recovery and Growth Plan (2017-2020), there are strong possibilities that the economy may benefit from revenue sources other than oil in the near future.




Related

 

Nigeria Economic Update (Issue 27)

The Naira strengthened against the dollar in the review week. Specifically, the Naira appreciated by 2.7 percent to N355/$ (parallel market rate) on June 17, 2016, following the release of the flexible FOREX policy guidelines by the CBN on June 15, 2016. The new policy effectively adopts a single market structure hosted at the autonomous/inter-bank market. The inter-bank trading scheduled to commence on June 20, 2016 will be market-determined, officially eliminating the N197/$ peg. To ensure foreign exchange liquidity, primary market dealers have been introduced while the CBN will participate in the market through periodic interventions.

Benefit Incidence Analysis Of Education And Health Spending In Nigeria

This brief examines the beneficiaries of government expenditure in the social sectors of education and health, and answers the question of equity in the provision of social services among different income groups.

Regional Trade For Inclusive Development In West Africa

This study examines the potential of regional trade in facilitating the achievement of inclusive development in the West African region. It employs descriptive analysis to examine the nature, composition and dimension of ECOWAS trade within the group and with the rest of the world, vis--vis three other Regional Economic Communities (RECs) in sub-Saharan Africa (SSA). From the preliminary study, it can be observed that the growth rate of West African economies is increasing, but the rising economic growth does not translate to improvement in inclusive development, as there was no significant reduction in poverty levels in the region. Further evidence reveals that extra-regional trade of the region is increasing at a very high rate, and also at a disproportionate rate with intra-regional trade, compared with SADC. This indicates the existence of opportunity to boost regional trade for inclusive development through conversion of part of the extra-regional trade into regional trade.