Key Macro-Economic Highlights

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 ...

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 (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 (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 (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 (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 (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 (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 (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.