Macroeconomic Report & Economic Updates

February 22, 2018
Nigeria Economic Update (Issue 5)
Recently released media highlights show that Nigeria has dropped in terms of macroeconomic indicator rankings in 2018. With a headline index of 2.77, Nigeria is ranked 158th globally out of 181 countries five places lower than the previous year rankings. Indicators suggest that Nigeria is presently behind 28 other African countries, and just ahead of only 4 West African countries (Mauritania, Togo, Niger and Guinea Bissau).
Related
Nigeria Economic Update (Issue 19)
Internally generated revenue by 35 states for the 2016 fiscal year increased by 17.5 percent to N802 billion from N683 billion generated in the preceding year. A breakdown of the IGR shows that the increase was driven by PAYE, Direct assessment, Road taxes, Revenue from MDAs and other taxes. The highest and lowest revenue generating states were Lagos (38%) and Ebonyi (0.1%) respectively. An improvement in the efficiency of the tax system could improve the contributions of the IGR to overall government revenue. Particularly, incorporating workers in small stores, agricultural and informal businesses into the tax system; building capacity of tax officials and computerizing their operations; as well as investing in quality data collection and access could provide some quick wins.
Nigeria Economic Update (Issue 31)
The Nigeria Stock Exchange market advanced further as equity indices pitched higher in the review week. Benchmark indices, All-share Index and Market Capitalization rose by 1.5 percent to settle at remarkable points, 37,425 and N12.90 trillion respectively an exceptional first-time record in more than two years. The uptrend has been sustained by stronger demand for investment securities due to outstanding H1 performance reports submitted by some listed companies during the week10.
MANUFACTURING SECTOR: Operating Admist Economic Recession And Rising Foreign Exchange Rates
This 2017 Manufacturing Sector survey provides an assessment of the
Nigerian manufacturing sector, highlighting
the key challenges facing operators within
the sector. It also examines the dynamics and
major development in the manufacturing
sector over the last one year. Overall, the
objective of the report is to provide a snapshot
of the manufacturing sector in Nigeria,
which will provide a framework for policy
intervention by policymakers