Macroeconomic Report & Economic Updates

November 6, 2017

Nigeria Economic Update (Issue 42)

Recently
released survey report by the CBN shows an improvement in the availability of
secured and unsecured banks credit and loans to
households, corporate and small businesses in 2017Q3, and an optimistic outlook
in 2017Q4. Among other indices, availability of overall secured and
unsecured lending to households improved from -6.2 and -19.2 to -0.9 and -15.0
index points respectively; although still in the negative territory. Index for
availability of credit to small businesses improved from -20.1 to -6.7. Lenders
and respondents noted that anticipation of a brighter economic outlook,
favorable liquidity positions, market share objectives and higher appetite for
risk were major factors behind the increase. 

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

Related

 

Nigeria Economic Update (Issue 12)

The naira/dollar exchange rate remained largely stable at the parallel market at ?320/$ during the period7, albeit slight fluctuations on February 29, 2016 (?325/$) and March 2, 2016 (?328/$). The decline in the hoarding of foreign currency as well as the substantial reduction in the speculative demand for dollars were the two key factors responsible for the ease of fluctuations in the forex market8. With the slight increase in the price of crude oil, Nigerias foreign reserve slightly grew by $56 million, from 27.81 billion to $27.84 billion9. With the continued increase in the price of crude oil, a modest build-up of foreign reserve to guard against unfavourable commodity price movements is expected in the near term.

Nigeria Economic Update (Issue 38)

Available data from NBS shows that Aviation sub-sector of the transport sector grew by o.15 percent in real terms in 2017Q2 down from 1.53 percent in 2017Q15. The decline is likely attributable to fall in year-on-year passenger and aircraft movement in the sub-sector, following increased air fare charges. 

Capital Importation And Gross Domestic Product Growth Rate And Contribution To GDP

Capital Importation: Overall capital imported into the manufacturing sector fell deeply in 2015 and has remained low in 2016H1 on the account of present FOREX issues affecting businesses in the sector