Macroeconomic Report & Economic Updates
February 26, 2016
Nigeria Economic Update (Issue 9)
The naira depreciated by 8.2 percent from
N305/$ on February 5th, to N330/ $ on February 12th 20166. The apex body identified the
increased domestic demand for forex to pay for foreign medical treatments and
schools fees (15 percent of total demand) 7 as the main drivers. As
a result, the apex bank is considering to discontinue the provision of forex for
payment of medical bills and school fees abroad and to re-channel the forex
towards the manufacturing sector of the economy. With the continuous
depreciation of the naira, and the CBNs resistance from calls to devalue the
currency, the options for alternatives measures seem to be diminishing.
Gross Domestic Product Growth Rate And Contribution To GDP (Transport Sector)
Gross Domestic Product Growth Rate: Growth in the sector which stalled in the second and third quarters of 2015 witnessed a considerable decline in 2015Q4; the stall in growth in 2015 is attributable
Analysis Of Bilateral Trade In UEMOA The Implications Of Trade Effects
The paper examines the implications of trade effects in bilateral trade drawing evidence from West African Monetary and Economic Union (UEMOA). It also discusses the importance of political stability to trade in ECOWAS countries.