Developing Countries

Nigeria Economic Update (Issue 29)

The Federal Government (FG) have announced plans to increase oil reserves by 40 billion barrels by the year 2030 with aim of dominating the West African oil and gas market.¹ Following this, oil production capacity is intended to rise to three million barrels per day. The Director of the Department of Petroleum Resources (DPR), Mr. […]

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Nigeria Economic Update (Issue 19)

The recent NBS survey found that 40.1% – 82.9 million – Nigerians are living in poverty with the national poverty line estimated at ₦137,430per year 1. As such, 4 out of 10 Nigerians spend less than ₦376 per day on both food and non-food basic needs. A further disaggregation shows that the population in rural […]

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Nigeria Economic Update (Issue 27)

On July 7, 2019, Nigeria signed the Africa Continental Free Trade Area (AfCFTA) agreement1 – the world’s largest free trade area deal since the formation of the World Trade Organization. The AfCFTA aims to, among other cardinal objectives, boost intra-regional trade which stands in favour of Nigeria and improve its low bilateral trade with other […]

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Nigeria’s Electricity Challenges and Policy Bottlenecks

Nigeria is Africa’s largest economy and has one of the widest energy gaps in the world. To provide the necessary economic growth for its growing population, Nigeria urgently needs to improve its power sector. The country’s current installed capacity is close to 13,000 megawatts, but in practice, only about 3,800 megawatts gets evacuated for consumption […]

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Nigeria Economic Update (Issue 45)

According to the latest CBN financial inclusion report, overall progress towards achieving the Nigeria Financial Inclusion Strategy (NFIS) fell short of the annualized target in 2017. The World Bank’s Findex database also shows that ownership of an account with a financial institution or a mobile money provider dropped by 4 percentage points from 44% in […]

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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 […]

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Nigeria Economic Update (Issue 40)

The World Bank’s recent Africa Pulse publication reveals a revised 2018 growth rate forecast for Nigeria from the earlier projected 2.1 percent to 1.9 percent1 – representing a slight downward review. The revision was premised around what the institution termed “sluggish growth” amid rising debts, and a myriad of factors including declining oil production, disruptions […]

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Nigeria Economic Update (Issue 39)

Nigeria’s all products terms of trade (calculated as the receipts of exports as a percentage of payments for imports), indicated increases in the three months of 2018Q2. Indexed at an average of 110.8% in 2018Q21, the favourable TOT reflects improvement from an average of 99.2% in 2018Q1. A further breakdown shows that TOT indices for […]

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Nigeria Economic Update (Issue 37)

The recent report by United Nations Development Programme (UNDP) shows that Nigeria’s Human Development Index (HDI) value rose very marginally from 0.530 in 2016 to 0.532 in 20171. However, overall, the ranking remained unchanged at 157th position out of 189 sample countries – putting the nation in the low human development category, and below Ghana, […]

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Nigeria Economic Update (Issue 31)

Data from the NBS on mining and quarrying in Nigeria show an increase in the quantity of solid minerals produced in 2017. Precisely, Nigeria produced 45.75 million tons of solid minerals in 20171 – up by 5.2 percent Year-on-Year. Disaggregated by states, Ogun state produced the largest tons of about 51 percent of total solid […]

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Nigeria Economic Update (Issue 28)

Information from the Apex bank shows a likelihood of not attaining the financial inclusion target of 2020 as stated in the Nigeria Financial Inclusion Strategy (NFIS) of 2012. Precisely, the CBN’s 2016 financial inclusion report states that only 58.4 percent of Nigerian adults were financially included as against the overall financial inclusion rate targeted at […]

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Nigeria Economic Update (Issue 25)

The recent report on Nigeria’s Public Debt Stock for the first quarter of 2018 indicates a 4.5 percent Quarter-over-Quarter increase, from N21.7 trillion in Q4 2017 to N22.7 trillion1, and a Year-on-Year increase of 18.5 percent from N19.2 trillion2. The ratio of domestic debt to external debt is put at 70:30, a reduction in domestic […]

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Examining Nigerias Learning Crisis: Can Communities Be Mobilized To Take Action?

Until recently, policy design and interventions in basic education were unduly focused on increasing school enrollment in developing countries, with little attention on improving the quality of learning. Using two states in Nigeria – Lagos and Kano, this paper examined the extent to which School Based Management Committees (SBMCs) mobilized actions (collective and private) to improve school-level […]

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