The 2020 National Budget: right cycle is great, but implementation is better

The reasons for underperformance of budgets are beyond wrong cycle or under-collection of oil revenue. But rather the biggest issues lie in over-ambitious projections, under-performing non-oil revenue and unspent funds by MDAs Budget cycle in Nigeria is expected to run from January and December. In practise however, budgets are nearly never passed until late into […]

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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, […]


Nigeria Economic Update (Issue 36)

Total value of Nigeria‚Äôs merchandise trade contracted in 2018Q2. Valued at N6.6 trillion1, total trade fell quarter-on-quarter by 8.9 percent from the N7.2 trillion recorded in the previous quarter. Both exports and imports declined during the period: Exports shrunk by 4.9 percent down to N4.5 trillion and was triggered by a huge fall in solid […]