Attaining Sustainable Development Goals (SDGs): New Evidence on Foreign aid and the “Bundling” of Domestic Revenue Mobilization in Sub-Saharan Africa

With the global sustainable development goals, it has become imperative for developing countries, especially sub-Saharan African countries, to think inward on ways to increase domestically mobilized revenue. The recovery of the global economy within the last few years has increased foreign assistance inflow into African countries. However, the direction of its impact on domestic mobilized […]

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Nigeria Economic Update (Issue 24)

Data from the National Bureau of Statistics (NBS) shows that the average retail price of Automotive Gas Oil (Diesel) paid by consumers in Nigeria increased by 181 percent from N238.82 in May 2021 to N671.08 recorded in May 2022.4 On a month-on-month basis, the average retail price increased from N654.46 in April 2022, indicating a rise of 2.54 […]


Nigeria Economic Update (Issue 32)

Between 2015 and 2021, Nigeria’s external debt from the World Bank and the African Development Bank nearly doubled, increasing from US$7.23 billion to US$14.35 billion. ¹ About US$11.097 billion was obtained from the World Bank’s International Development Association (IDA) which provides concessional loans at lower interest rates and longer maturity and grace periods. Other sources […]


Nigeria Economic Update (Issue 41)

President Muhammadu Buhari presented the Federal Government’s Proposal for the 2021 fiscal year before a joint sitting of the National Assembly. The proposed Revenue and Expenditure budgets are ₦7.89 trillion and ₦13.08 trillion respectively, representing a ₦5.20 trillion fiscal deficit.1 With an estimated Gross Domestic Product (GDP) of ₦1.43 trillion2, the fiscal deficit is 3.64 […]


Nigeria Economic Update (Issue 44)

Total transaction at the national bourse increased by 15.95 percent from ₦121.9 billion in August 2019 to ₦141.45 billion in September 2019.1 The increase in total transaction is attributable to a 47.81 percent increase in foreign transactions which outweighed the decrease in the domestic transaction (19.09 percent). We expect foreign portfolio investment (FPI) to continue […]


Nigeria Economic Update (Issue 39)

The Central Bank of Nigeria (CBN) reviewed upward the minimum Loan to Deposit Ratio (LDR) target for all Deposit Money Banks (DMBs) from 60 percent to 65 percent.1 This is to sustain the momentum gained from a 5.33 percent (N829.40 billion) increase in the industry gross credit between end of May 2019 and 26th September […]


Nigeria Economic Update (Issue 25)

Foreign and domestic investors consolidated their portfolio investments in May 2019 by increasing the value of their buy orders for Nigerian equities by about 50%. Compared to April 2019, total portfolio investments increased from N148.91 billion to N221.13 billion in May 20191. This makes it the second month of increase in the second quarter, indicating […]