Macroeconomic Report & Economic Updates

November 14, 2018

Nigeria Economic Update (Issue 44)

At N4,401.91 billion or 7.7 per cent of GDP, gross federally collected revenue for the first half of 2018 was 33.7 percent below the proportionate budget estimates but 47.1 percent above the level recorded in corresponding period of 2017.1 The difference in revenue, relative to the proportionate budget estimates, was driven by shortfalls in both […]

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

At N4,401.91 billion or 7.7 per cent of GDP, gross federally collected revenue for the first half of 2018 was 33.7 percent below the proportionate budget estimates but 47.1 percent above the level recorded in corresponding period of 2017.1 The difference in revenue, relative to the proportionate budget estimates, was driven by shortfalls in both oil and non-oil revenue components. The decline in oil revenue was due to a difference between the budgeted crude oil production benchmark of 2.3 million barrels per day (mbd) and the actual production of 1.90 mbd. An increase in crude oil price over the budget benchmark within the review period was insufficient to reverse the decreasing trend in oil revenue.




Related

 

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.