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August 3, 2015
Volume 3 September 2013
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Nigeria Economic Update (Issue 43)
The IMF World Economic Outlook report, indicates a downward revision for Nigerias 2017 economic growth. Specifically, growth has been projected to expand by 0.6 percent relative to the 1.1 percent earlier projected. The decrease is attributable to sharp growth slowdown experienced in Nigeria, occasioned by prevailing constraining factors (crude oil production disruptions, Forex and power shortages, and weak investor confidence). The outlook, which does not seem optimistic, reveals Nigerias further vulnerability to potential external and internal risks/shocks.
Nigeria Economic Update (Issue 18)
Recent Data released by the Nigeria Bureau
of Statistics reveals an increase in total public debt stock between 2015 and
2016. Foreign and domestic debt stock stood at $11.4 billion and N14.0 trillion
respectively as at December 2016, from $10.7 billion and N10.5
trillionrecorded as at December 2015. Disaggregated
data shows that foreign debt sources comprised Multilateral ($8.0 billion),
Bilateral ($0.2 billion) and Exim bank of China ($3.2 billion); domestic
sources included government bonds, treasury bills and bonds. The federal
government and states accounted for 68.7% and 31.3% respectively of foreign
debt stock; 78.9% and 21.1% respectively of domestic debt stock. This maybe
particularly at the backdrop of government borrowings in 2016 to finance its
expenditure (mostly recurrent).
Nigeria Economic Update (Issue 16)
Recently
released World Economic Outlook by the International Monetary Fund (IMF)
projects economic activities to increase significantly in developing countries-
especially Nigeria. Annual real output is expected to grow by 0.8 percent in
2017 from the contraction of 1.5 percent in 20161. Improvement in
economic activities is hinged on prospective favorable effects of continued
increase in commodity export price (Crude oil is expected to increase to $55
per barrel in 2017 compared to $46 in 2016).