May 6, 2021
  • May 6, 2021

Fitch says Nigeria targets consolidation but revenues may fall short

by on November 30, 2017 0

Nigeria’s 2018 budget aims to narrow the government deficit, but revenues are still highly dependent on oil, and non-oil revenues are likely to fall short of the budget projections, Fitch Ratings says. President Muhammadu Buhari presented the budget to parliament on 7 November. The “Budget for Consolidation” sees the Federal Government of Nigeria’s (FGN)...

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Will OPEC extend its output accord?

by on November 30, 2017 0

OPEC’s output cap agreement has halved oversupply in the oil market, driving the average price up 23.2 percent from $43.8/barrel in 2016 to $54.0/barrel in 2017. This has supported economies of African countries like Angola as well as Nigeria and Libya, which have both ramp-up production while benefiting from an exemption clause.  This has...

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Capital Importation into Nigeria: Hot money up, Cold money down -United Capital

by on November 29, 2017 0

The National Bureau of Statistics (NBS) recently released Nigerian capital importation data for Q3-17, indicating total capital imported increased 127.5 percent y/y and 131.3 percent q/q to $4.1 billion. The bulk of these came in form of Foreign Portfolio (FPIs) and Other Investments (comprising of; Trade credits, Loans, Currency deposits and Other claims) which advanced...

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Nigeria… in need of bold reforms -United Capital

by on November 28, 2017 0

Suppressed by military rule, Nigeria’s GDP growth averaged 1.7 percent in the 90s amid extreme hostilities in the socio-political environment.  Nevertheless, democracy ushered in an era of fast GDP growth (averaging 8.6 percent) from 2000 to 2010. Over the last 7 years, growth in the Nigerian economy has slowed significantly, battered by mismanagement, insecurity...

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Factors to watch in Nigeria economy in 2018

by on November 15, 2017 0

The Nigerian economy has improved significantly so far this year. Although weak, GDP is on the path of recovery, inflation is moderating, and FX rate has been relatively stable over the last six months.  The four factors responsible for the above include, OPEC’s output cap agreement, government peace deal with N/Delta militants, FGN’s ease...

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