Macroeconomic Report & Economic Updates

November 16, 2017

Nigeria Economic Update (Issue 44)

Latest
Doing Business report by the World Bank ranks Nigeria as one of the top 10 economies
that showed notable improvements in doing business in 2016/2017. Precisely, the
report which presents quantitative indicators on business regulation compared
across 190 economies and ranked Nigeria 145th – up by 24 positions from
the previous report ranking, to reach its highest rank since 2013. This may not
be unexpected, given that it is consequent upon various business environment
reforms in 2016. Particularly, the Presidential Enabling Business Environment
Council (PEBEC) set up in 2016 enacted 31 reforms to improve
business(such as improving credit to small and medium-size
businesses) all of were enacted into law in May 2017.

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Nigeria Economic Update (Issue 13)

Recent Data on Nigerias Real GDP growth rate (Year-on-Year) declined by 0.73 percentage points, from 2.84 per cent in 2015Q3 to 2.11 percent in 2015Q4. The slowdown in economic growth was largely driven by the decline in the performance of the oil sector which was occasioned by the slump in crude oil prices and the slight drop in the volume of crude oil produced. Specifically, compared to the 1.05 percent growth recorded in 2015Q3, the oil sector witnessed a negative growth of 8.28 percent in 2015Q4.

Nigeria Economic Update (Issue 36)

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