government

Nigeria Economic Update (Issue 27)

The Federal Government has approved the Medium-Term Fiscal Framework (MTFF) for 2022-2024. The framework is based on the following key parameters: crude oil price benchmark of $57 per barrel, crude oil production of 1.88 million barrel per day, exchange rate of N410.15/$, inflation rate of 13 percent and Gross Domestic Product (GDP) growth rate of […]

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Agenda for Sustainable Economic Transformation Post-COVID-19 in Nigeria

The COVID-19 pandemic has had a debilitating effect on the Nigerian economy. Specifically, the combination of lockdown measures and the global slowdown of economic activities led to the contraction of Nigeria’s GDP by 6.1% in the second quarter of 2020, thus inducing the country’s second recession within five years . Nevertheless, it is noteworthy that […]

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Nigeria Economic Update (Issue 40)

Data from the National Bureau of Statistics (NBS) shows that 2,080 road accidents occurred in the second quarter of 2020.¹ Accounting for 47 percent of crashes, speed violation was reported to be the leading cause of crashes, followed by wrongful overtaking which accounted for 10 percent. A total of 855 lives were lost in road […]

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Nigeria Economic Update (Issue 31)

According to the Central Bank of Nigeria’s (CBN) Business Expectation Survey carried out in July, the business outlook rose by 16.4 index points month on month. However, the overall Confidence Index for July 2020 remained pessimistic/negative at -7.9 index points considering that the Index in the preceding month was -24.3 points2. The sectors surveyed were […]

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Nigeria Economic Update (Issue 38)

The government’s new fiscal projections have been revealed in the Medium-Term Expenditure Framework (MTEF) 2020-20221. The GDP growth projection was revised downwards from 3.6% to 2.9% for the 2020 fiscal year. Benchmark crude price was also revised from $60 to $55 per barrel, which could weigh on expected revenues. However, while recurrent expenditure is expected […]

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Nigeria Economic Update (Issue 33)

Recent reports suggest that a forex restriction on food imports into Nigeria will be implemented in the coming months1. The Apex bank had enlisted, in 2015, 41 items as invalid for foreign exchange at the Nigerian forex markets. This list is set to increase if the recent directive to ban forex for imported food items […]

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Chinese think tanks with Chinese characteristics: some lessons for African think tanks

Think tanks in China have drawn prominence in the global body of think tankers since the end of the Chinese closed-border policy era. By all accounts, the number of Chinese think tanks have risen to top any global lists of think tanks. As a research associate in a leading think tank in Nigeria, the Centre for the Study […]

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Nigeria Economic Update (Issue 21)

The value of non-oil exports increased in the first quarter of 2019. According to the latest CBN quarterly economic report, non-oil exports totalled up to US$1.26 billion in 2019Q11, indicating 14.9% quarter over quarter (QOQ) increase and 41.2% year-on-year growth rate. Significant increases were observed in and driven by receipts from all reported sectors, however, […]

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Building political will for policy change: the role of CSOs in Nigeria

The presence/extent of political will is a key determinant of the success or failure of policies. It is captured by the capability of political actors to achieve the implementation of policies which they prescribed or supported. Political will can be verbally expressed, observed through institutional changes, or demonstrated by budgetary commitments by state actors (Shiffman, […]

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State-owned enterprises

The Nigeria Natural Resource Charter (NNRC) Benchmarking Exercise Report (BER) 2017[1] assessed the operational activities in the nation’s oil and gas sector between 2015 and 2017 against the Natural Resource Charter[2]. The exercise sought to unveil the true state of oil resource extraction, governance, and transparency among others based on a set of underlying economic […]

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Managing Local Impacts

If managed properly, natural resource exploration could be beneficial to communities where extractive activities take place, either directly through transfer of resource revenues and corporate interventions or through the promotion of local content. However, communities also bear the disproportionate costs of resource extraction from environmental hazard and other socio-economic effects. Effective resource management, therefore, involves […]

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Transiting from Plan to Implementation: Challenges and Opportunities Ahead for Sustainable Development Goals in Nigeria

Global efforts over the next 15 years will focus on successfully implementing the Sustainable Development Goals (SDGs) agreed to under the 2030 Agenda for Sustainable Development. Most developing countries will face enormous challenges because they lack the necessary means of implementation (MoI). This study examines the adequacy of various MoI for the SDGs in Nigeria, focusing on five […]

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