Nigeria

Nigeria’s post-COVID-19 Macroeconomic Policies: Are They Climate Change Friendly?

The COVID-19 pandemic has given rise to arguably the most challenging global health crisis in modern times. Its impact has been felt by most sectors of the global economy, resulting in economic decline around the world. Governments have committed at least $12 trillion towards a recovery stimulus with a focus on immediate needs, including healthcare, […]

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Nigeria Economic Update (Issue 11)

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN), in its 147th meeting, has raised the Monetary Policy Rate (MPR) to 18 percent.1 This represents an increase of 50 basis points from the previous MPR of 17.5 percent. The apex bank attributes this sixth consecutive increase in the MPR since April 2022 […]

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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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Building a more Inclusive Digital Future for Women in the Global South

The advent of digital innovation has revolutionised our world, bringing immense benefits to individuals, societies, and economies. It has boosted efficiency and productivity and fostered opportunities for creativity and expansion. Additionally, it has facilitated connectivity, broken down geographical barriers, and enabled cultural exchange. The development of digital innovation has also unlocked new opportunities, particularly in […]

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Nigeria Economic Update(Issue 5)

There was a general increase in transport fares across different modes of transportation in the country in December 2022. The report on transport fares released by the National Bureau of Statistics (NBS) in January 2023 revealed that the average fare paid by passengers for bus journey within the city per drop increased from N637.10 in […]

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Nigeria Economic Update (Issue 2)

According to data from the Nigeria Inter-Bank Settlement System (NIBSS), cashless transactions in Nigeria increased by 42.05 percent to reach N395.47 trillion in 2022. The data revealed that Nigerians spent more through cashless forms of payment, which was N117.07 trillion more than the N278.39 trillion total cashless transactions processed in 2021. The N395.47 trillion processed in 2022 […]

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Highlighting CSEA’s research in the education sector

Today, the 24th of January, the world celebrates the International Day of Education to recognize the role education plays in fostering peace and development. This year’s theme is “to invest in people, prioritize education”. Education remains a veritable tool for eradicating poverty globally and achieving Sustainable Development Goals (SDGs). Without inclusive and equitable quality education, […]

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Measuring Learning Is Key to Reaching Education Goals: The Case of Nigeria

Learning assessments have played a key role in highlighting the extent of the learning crisis in Nigeria. The next step to addressing learning is improving assessments to close data gaps that still exist, and responding to evidence from them. Large-scale learning assessments conducted in Nigeria have been crucial in examining the breadth and depth of […]

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Nigeria Economic Update (Issue 50)

Data from the Nigeria Inter-Bank Settlement Systems (NIBSS) shows that transactions performed electronically through the NIBSS Instant Payment platform (NIP) in Nigeria grew to N38.9 trillion in November 2022, which is 12.7 percent higher than the N34.5 trillion recorded in October 20222. On a year-on-year (YoY) basis, the N38.9 trillion value of e-payments increased 50 […]

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Agricultural Development Financing and Food Inflation in Nigeria: What the Government may need to do differently

Over the years, the Nigerian government has deployed development financing initiatives to boost food production through increased access to finance for farmers and other small businesses in the sector. While progress may have been made in some areas, the country is still at a critical juncture, as access to food and its affordability remain a […]

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Nigeria Economic Update (Issue 49)

The Central Bank of Nigeria (CBN) announced a new policy on cash withdrawals on 6th December 2022.2 According to the policy, the maximum weekly withdrawal over the counter is set at N100,000 for individuals and N500,000 for organizations. Any withdrawal above these limits shall attract processing charges of 5 percent and 10 percent, respectively. In addition, withdrawals […]

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Why Nigeria should Strengthen Mobile Money: Some Stylized Facts

Nigeria continues to miss its financial inclusion targets. Many constraints around the formal banking system have meant that a greater percentage of the Nigerian population remains excluded from the formal financial sector. This article highlights the need to strengthen mobile money as a means of driving financial inclusion in Nigeria. Introduction The financial sector plays […]

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Employment Creation Potential of Industries Without Smokestacks: A Nigeria Case Study

This report examines the potential for industries without smokestacks (IWOSS) in creating large-scale job opportunities in Nigeria, particularly for the young and female population subgroups. With the emergence of technology and shifts in the global economy, the relevance of some industries in economic development have increased. These industries are codified as IWOSS. IWOSS are sectors […]

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Nigeria Economic Update (Issue 47)

The latest monthly oil market report (MOMR) of the Organisation of Petroleum Exporting Countries (OPEC) indicates that Nigeria’s crude oil production increased from 938 thousand barrels per day (tb/d) in September to 1,014 tb/d in October 2022.1 The increase is coming a few weeks after the federal government launched full-blown combat against oil theft in […]

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Nigeria Economic Update (Issue 46)

The National Bureau of Statistics, in its latest National Multidimensional Poverty Index Report, shows that 62.9 percent of Nigerians are multi-dimensionally poor, which translates to 132.93 million Nigerians.3 The Multidimensional Poverty Index provides a multivariate form of poverty assessment based on fifteen indicators that describe deprivations across health, education, living standards, work, nutrition, and shocks. […]

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Nigeria Economic Update (Issue 45)

Total revenue and income generation by the rail sector dipped significantly in Q2 2022, according to the latest rail transport statistics published by the National Bureau of Statistics (NBS). The report shows that aggregate revenue generated by the sector dropped by over 200 percent. It decreased from about N2.2 billion in Q1 2022 to about N734.5 million […]

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