economy

Nigeria Economic Update (Issue 45)

Data from the National Bureau of Statistics (NBS) shows that Nigeria’s headline inflation rate increased to 27.33% in October 2023 from 26.72% recorded in August 2023 and 21.09% in October 2022. The headline inflation is three times the upper bound inflation target of 9%. The data further show that food inflation stood at 31.52%. Core […]

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Nigeria Economic Update (Issue 44)

The October 2023 Cadre Harmonisé analysis on food insecurity conducted by the Food and Agricultural Organization (FAO) in partnership with the Nigerian government revealed that 26.5 million Nigerians will face severe food insecurity in 2024, and 9 million children are at risk of malnutrition. This implies that more than 10% of the population will likely […]

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Nigeria Economic Update (Issue 39)

According to the latest Transport Fare Watch of the National Bureau of Statistics (NBS), transportation costs increased significantly in August 2023. The average fare paid by bus passengers within the city increased by 121.81% year-on-year from N602.48 in August 2022 to N1,336.38 in August 2023. Similarly, the average fare paid by commuters for intercity bus […]

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Nigeria Economic Update (Issue 37)

Data from the September 2023 report of the Organization of Petroleum Exporting Countries (OPEC)shows that Nigeria’s oil output rose by 9.3% from 1.08 mb/d recorded in July to 1.18 million barrels per day (mb/d) in August 2023. However, oil output still falls short of the 1.74 mb/d quota allocated to Nigeria by OPEC and far […]

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Investing in Education for National Development: Policy Priorities for Nigeria’s New Administration

The progress and advancement of any given nation is significantly dependent on its human capital, which is cultivated through the provision of high-quality basic education. This is established in the definition of education, which links it to the stock of skills, competencies, and other productivity-enhancing characteristics. Thus, the prioritisation of basic educational policies that tackle […]

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Press Release: Aligning Nigeria’s Debt Reduction Policies with Gender and Climate Goals

In a groundbreaking report dissemination event titled “Towards Reconciling Economic and Debt Management Policies with Gender and Climate Objectives in Nigeria,” experts and other stakeholders convened in Abuja on Wednesday, September 6 2023, to deliberate research findings from a three-fold report that shed light on fundamental fiscal policy options for growing out debt in Nigeria.

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Nigeria Economic Update (Issue 33)

The July 2023 monthly OPEC oil market report indicates a general increase in international crude oil prices. According to the report, the OPEC reference basket, which reflects the average crude oil prices of OPEC member countries, experienced a month-on-month surge of $5.87 (7.8%), reaching an average of $81.06 per barrel. Concurrently, the ICE Brent front-month […]

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Why we need to unlock data’s potential responsibly and inclusively

In today’s digital age, data has become an invaluable asset, driving innovation, economic growth, and societal development. Africa, with its vast population and diverse landscapes, holds immense potential for leveraging data to transform various sectors. However, to harness the power of data effectively, responsible data governance is essential. This blog post explores the concept of […]

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The Impact of Fuel Subsidy on the Nigerian Economy

In the maiden edition of ‘The CSEA Podcast’, Dr Adedeji Adeniran, Director of Research at CSEA, speaks on the impact of the Fuel Subsidy Removal on the Nigerian Economy.

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Nigeria Economic Update (Issue 27)

According to OPEC’s monthly report on crude oil movement, the price of crude oil dropped significantly in the global market in June. In particular, the OPEC Reference Basket fell by 0.8 percent (63 cents) from $75.82 per barrel in May to $75.19 per barrel. Similarly, the monthly averages for ICE Brent and NewYork Mercantile Exchange […]

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Can Information Communication Technology Unlock Tax Revenue Mobilization in Sub Saharan Africa

This study examines the effect of ICT on tax revenue mobilisation in 23 sub-Saharan African countries between 2000 and 2020. To address our objectives, it utilises a feasible generalised least squares approach that accounts for both heteroscedasticity and autocorrelation challenges. Particularly, six measures of ICT (import of ICT goods, export of ICT goods, ICT trade, […]

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Nigeria’s industries without smokestacks are delivering better economic opportunities than traditional sectors

Persistently high levels of unemployment have emerged to become a key policy challenge in Nigeria. Between 2010 and 2018, the unemployment rate rose from 5 percent to 23 percent. Worsened by the COVID-19 pandemic, the economy is simply not generating enough jobs for labor entrants, particularly women and youth. In 2020, the national unemployment rate […]

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Women’s Participation in MSME in Nigeria: Prospects, Challenges, and Policy Recommendations

In Nigeria, women’s labour participation has begun to pick up in recent years after many years of stagnation. However, women’s entry point into labour has been mainly through the informal sector or at the bottom pyramid of the formal labour market. Promoting women’s inclusion in the top echelon of the labour market remains a knotty […]

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Redefining our priorities: Food, not tobacco

Nigeria has a population of over 200 million people and is one of the largest producers of tobacco in Africa. However, Nigeria faces significant challenges in achieving food security. With a growing population, there is a need for Nigeria to prioritise food production over tobacco farming. This is because about 40 percent of Nigerians are […]

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Nigeria Economic Update(Issue 9)

Transport fares continued to increase across different modes of transportation in January 2023. According to the National Bureau of Statistics report on transportation in January, the average fare paid by commuters for buses within the city per drop increased from N644.66 in December 2022 to N650.70 in January 2023.

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Nigeria Economic Update (Issue 8)

According to the oil market report by the Organisation of Petroleum Exporting Countries (OPEC) for January 2023, global oil price slightly increased in the month of January 2023, contrary to the decline recorded in the previous month. The report showed that the OPEC reference basket (ORB) stood at $81.62 per barrel in January 2023, showing a marginal […]

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