Q2 2023 GDP Highlights
NIGERIA’S GDP GREW BY 2.51% IN Q2’2023 Nigeria’s Q2’23 Gross Domestic Product (GDP) grew by 2.51% Y-o-Y, lower than the 2.80% estimate. Although, the growth rate was lower than 3.54% in Q2’22 but higher than 2.31% in Q1’23. In real terms,…
INFLATION WATCH – July 2023
Inflation Watch – Headline and Core (modified) Inflation at 24.08% y/y and 20.47% y/y Nigeria’s inflation for July jumped to 24.08% y/y, from 22.79% y/y in June 2023, accruing 1.29% y/y between June and July (Bloomberg Est. 23.60%). The headline…
MPC HIGHLIGHT – JULY 2023
The Monetary Policy Committee (MPC) concluded its 2-day meeting today and raised the benchmark interest rate by 25bps to 18.75% and adjusted its asymmetric corridor to -300/+100 basis points around the MPR. Please see below, a summary of the committee’s…
INFLATION WATCH – June 2023
Inflation Watch -The furnace rages on Nigeria’s inflation accelerated to 22.79% YoY in June 2023, higher by 0.38% compared to 22.41% YoY recorded in May (Bloomberg Est. 23.00%). The headline inflation grew by 2.13% M-o-M in June 2023 vs 1.94% recorded in…
INFLATION WATCH – May 2023
Inflation Watch – A Further Uptick in Inflation for May Nigeria’s inflation for May 2023 increased to 22.41% Y-o-Y (Est. +22.10%), an increase of c.0.19% from 22.22% Y-o-Y recorded in April 2023. Moreso, headline inflation grew at 1.94% M-o-M in…
MPC HIGHLIGHT – MAY 2023
The Monetary Policy Committee (MPC) concluded its 2-day meeting today and raised the benchmark interest rate by 50bps to 18.50%. Please see below, a summary of the committee’s decisions: – MPR…
Q1 2023 GDP Highlights
NIGERIA’S GDP GREW BY 2.31% IN Q1’2023 Nigeria’s Q1 2023 Gross Domestic Product (GDP) grew by 2.31% Y-o-Y, lower than the 2.85% estimate. Although, the growth rate was lower than 3.52% in Q4’2022 and 3.11% in Q1’2022, the real GDP growth rate…
INFLATION WATCH – April 2023
Inflation Watch – No Case for a Pullback Nigeria’s inflation for April 2023 increased to 22.22% Y-o-Y (Est. +22.10%), an increase of c.0.18% from 22.04% Y-o-Y recorded in March 2023. Again, headline inflation pushed higher at 1.91% M-o-M in April…
INFLATION WATCH – March 2023
Inflation Watch – Reflecting The Known Reality Nigeria’s inflation for March 2023 increased to 22.04% Y-o-Y (Est. +21.80%), an increase of c.0.13% from 21.91% Y-o-Y recorded in February 2023. Moreso, headline inflation printed higher at 1.86% M-o-M…
MPC HIGHLIGHT – MARCH 2023
The Monetary Policy Committee (MPC) concluded its 2-day meeting on March 21, 2023, and raised the benchmark interest rate by 50bps, from 17.50% to 18.00%. Please see below, a summary of the committee’s decisions:…
