Macroeconomic Report & Economic Updates

October 29, 2018

Nigeria Economic Update (Issue 42)

The recent compilation of Gross Domestic Product (GDP) at sub-national level by the NBS provides estimates for eleven states for a five-year period covering 2013-2017. The eleven states covered, contributed a total of N33.3 trillion to nominal GDP in 2017

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The recent compilation of Gross Domestic Product (GDP) at sub-national level by the NBS provides estimates for eleven states for a five-year period covering 2013-2017. The eleven states covered, contributed a total of N33.3 trillion to nominal GDP in 2017




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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.