Key Macro-Economic Highlights

Key Macro-Economic Highlights (January 2018)

Nigeria’s external reserves hit 4-year high of $40.3bn: Nigeria’s external reserves rose to $40.33bn last week, the highest in four years. Data from the CBN website showed that external reserves rose to $40.33bn from $38.765bn. Thus, the reserves have risen by $1.56bn this year.

Key Macro-Economic Highlights (December 2017)

Nigeria’s export value rises 13.19% to N3.57bn in Q3 2017: The National Bureau of Statistics stated that Nigeria’s total exports in the third quarter of 2017 stood at N3.57bn, showing 13.19% increase over the amount recorded in the second quarter.

Key Macro-Economic Highlights (November 2017)

Nigeria emerges sixth in access to credit rankings: Nigeria has emerged number six among over 150 countries ranked by the World Bank on the basis of the ease of access to credit for the Small and Medium Enterprises.

Key Macro-Economic Highlights (October 2017)

FG launches 60-day action plan on ease of doing business: FG launched the second National Action Plan on Ease of Doing Business as part of the administration’s medium term Economic Growth and Recovery Plan (EGRP) to build a globally competitive economy.

Key Macro-Economic Highlights (September 2017)

Fitch affirms Nigeria at ‘B+’, negative outlook: Fitch Ratings has affirmed Nigeria’s LongTerm Foreign-Currency Issuer Default Rating at ‘B+’ with a negative outlook. Fitch forecasts growth of 1.5% in 2017 and 2.6% in 2018, following Nigeria’s first contraction in 25 years in 2016.

Key Macro-Economic Highlights (August 2017)

Investment inflow into Nigeria rises by 95% to $1.7bn: The National Bureau of Statistics on released the capital importation report stating that investment inflows into the country rose by 95.02% from $884.1mn in the first quarter of this year to $1.79bn in the second quarter.

Key Macro-Economic Highlights (July 2017)

Nigeria rated Africa’s 19th most attractive investment destination: Nigeria is the 19th most attractive economy for investments flowing into the African continent. The Africa Investment Index 2016 report showed that Nigeria attracted a net Foreign Direct Investment of $3.1bn in 2015. According to the index, African...

Key Macro-Economic Highlights (June 2017)

World Bank approves $961mn for Nigeria’s economic recovery plan: The World Bank has approved $961mn loan to support the implementation of Nigeria’s Economic Recovery and Growth Plan 2017-2020. The Better Education Service Delivery for All will receive $611mn out of the total fund for the Economy...

Key Macro-Economic Highlights (May 2017)

The Nigerian Budget: The 2017 fiscal budget has been approved in May 2017. With the economy reeling from low oil prices, which have led to recession, a plummeting naira and a spike in inflation, the budget aims to jumpstart growth by increasing capital spending on infrastructural development. In a bid to wean...

Key Macro-Economic Highlights (April 2017)

Nigeria to grow by 0.8% in 2017: According to a revised report by the International Monetary Fund (IMF), growth rates is expected to reach 0.8% in 2017. IMF has also forecasted 2.6% growth in sub-Saharan Africa this year, aided by a modest recovery in large economies South Africa, Nigeria and Angola...

Key Macro-Economic Highlights (March 2017)

The Nigerian economy is beginning to show good signs with Forex reserves growing, increased FX supply, declining Year-on-Year inflation & peace prospects in Niger Delta. Economic Recovery and Growth Plan (ERGP): The plan is expected to deliver on 5 key broad outcomes, namely: a stable macroeconomic ...

Key Macro-Economic Highlights (February 2017)

The Nigerian Economy: Headline Inflation increased by 0.17% to 18.72% in January 2017 from the previous month. Though the magnitude and direction of the increase was contrary to expectations, a decomposition of the inflation numbers shows an imminent reversal in the inflation trend as core inflation is ...