economy

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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Building Resilience Into Social Protection Systems Across Africa – Case Study on Nigeria

The dawn of the COVID-19 pandemic affected the globe with its far-reaching impacts. Even though the long-term health, economic, and social impact is still indeterminate, the immediate effects have ensued with significant loss of lives and livelihoods. Those already living in poor and vulnerable conditions have been the hardest hit, suffering extreme hardship from reduction […]

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Lessons for Macroeconomic Policy from Nigeria Amid the COVID-19 Pandemic

The COVID-19 pandemic has had severe impacts on the macroeconomy and the livelihoods of households globally. The restrictions to movement alongside the associated uncertainty stimulated a sudden decline in the demand for commodities and disrupted production, leading to the underutilisation of capital and labour. More specifically, as governments sought to curb the spread of the […]

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How Aba Shoe Industry can harness the Potentials of the AfCFTA

The African Continental Free Trade Agreement (AfCFTA) presents a major opportunity for African leaders to bolster trade in the region, as the region has become the largest trading bloc in history since the creation of the World Trade Organisation. Specifically, the AfCFTA has the objective of creating a single market to deepen economic integration in […]

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Are Conventional Monetary Policies Regulating the Nigerian Economy?

The commitment of the Central Bank of Nigeria (CBN) to stimulate the economy following the      distortions caused by the coronavirus pandemic prompted the decision to reduce the Monetary Policy Rate (MPR) from 12.5% to 11.5% . However, the cash reserve ratio was retained at 27.5% and the liquidity ratio at 30%.  The major goal of […]

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Nigeria Economic Update (Issue 50)

Data from the International Monetary Fund (IMF) shows that real GDP is projected to contract by 3.25 percent at the end of 2020 due to the negative impact of the COVID-19 pandemic.1 The economy is expected to recover with minimal growth of 1.5 percent in 2021 with output returning to its pre-pandemic level by the […]

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Nigeria Economic Update (Issue 28)

Microsoft Word – Harvard help sheet The inflation rate for the month of June rose to 12.56 percent from 12.40 percent in May1. The rise in inflation was driven by a rise in all components of the headline index, as food sub-index rose by 0.14 percent to 15.18 percent and the core sub-index rose by […]

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Nigeria Economic Update (Issue 22)

Foreign capital imported into Nigeria increased by 53.97 percent from US$3.8 billion in the fourth quarter of 2019 to US$5.85 billion in the first quarter of 2020. This rise was largely driven by an increase in portfolio investments which grew 128.78 percent to US$4.3 billion, accounting for 73.61 percent of total capital importation. Other components […]

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Nigeria Economic Update (Issue 17)

The total direct remittance inflow into Nigeria has declined considerably, falling by 50% from US$2.04 billion to US$1.01 billion between January and February 20201. This is significantly lower than 2019 levels, as a total of US$23 billion was remitted in 2019, making Nigeria the highest recipient within the sub-Saharan African region2. However, with many of […]

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Nigeria Economic Update (Issue 29)

Latest report from NBS shows that the Nigeria Immigration Service (NIS) generated ₦39.06 billion in 20181 as against ₦35.72 billion it generated as local revenue in 2017- representing a growth of 9.3%. Whereas the Combined Expatriate Residence Permit and Aliens Card (CERPAC) generated the highest revenue of ₦20.4 billion, the ECOWAS/African affairs revenue section recorded […]

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CSEA: Highlighting Our experience as a Think Tank in Africa

Since inception in 2008, the Centre for the Study of the Economies of Africa (CSEA) has provided evidence-based research in an effort to enhance development outcomes in Nigeria and Africa. Our research includes: Public financial Management and Growth, Natural Resources, Energy and the Environment, Education, Health and Population Dynamics, Trade Investment and Growth, Global Economic […]

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Nigeria Economic Update (Issue 13)

The CBN Monetary Policy Committee (MPC) switched its policy stance to ‘easing’ at the last MPC held on March 25-26, 2019. While holding other policy parameters at previous levels, the Monetary Policy Rate (MPR) was cut by 50bps to 13.5%1 following a retaining policy stance of 14% that lasted for more than two years (since […]

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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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Green Economy in Africa: Concerns and Way Forward

The green economy agenda promoted as part of the Rio+20 policy framework is indeed important to Africa for many reasons. With favorable national policies and institutions in place, the opportunities offered by a global green economy can enhance economic growth and contribute significantly to national environmental and development objectives. In fact, green economy may be […]

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