Category: Macroeconomic Update

NIGERIA’S GDP GREW BY 3.10% IN 2022 •Nigeria’s Q4 2022 and full year 2022 Gross Domestic Product (GDP) performance reflected a rare silver lining amid the soaring inflationary pressures and…

Inflation still on the rise, no end in sight. Nigeria’s inflation for January 2023 nudged upward to 21.82% Y-o-Y (Est. +21.30%), an increase of c.0.48% from 21.34% Y-o-Y recorded in…

Headline Inflation rose to 21.34% in December 2022 Nigeria’s inflation for December 2022 slowed down to 21.34% Y-o-Y (Est. +21.80%), a decline of c.0.13% from 21.47% Y-o-Y recorded in November…

Headline Inflation rose to 21.47% in November 2022 Nigeria’s inflation for November 2022 quickened to 21.47% Y-o-Y (Est. +21.30%), an increase of c.0.38% from 21.09% Y-o-Y recorded in October 2022.…

Nigeria Q3’2022 GDP grew by 2.25% Y-o-Y •The National Bureau of Statistics (NBS) released the Gross Domestic Product (GDP) figures for Q3 2022, reporting a real economic growth of +2.25%…

Headline Inflation rose to 21.09% in October 2022 Nigeria’s Consumer Price Index (CPI) for the month of October 2022 accelerated to 21.09% Y-o-Y (lower than Bloomberg median estimate +21.30%), an…

Headline Inflation rose to 20.77% in September 2022 Nigeria’s Consumer Price Index (CPI) for the month of September 2022 accelerated to 20.77% Y-o-Y (vs Bloomberg median estimate +21.00%), an increase…

The Monetary Policy Committee (MPC) concluded its 2-day meeting today and raised the benchmark interest rate by 150bps, from 14.00% to 15.50%. Please see below, a summary of the committee’s…

Headline Inflation rose to 20.52% in August 2022 Nigeria’s Consumer Price Index (CPI) for the month of August 2022 hit a fresh 17-year high as it accelerated to 20.52% Y-o-Y…

Nigeria Q2’2022 GDP grew by 3.54% Y-o-Y •The National Bureau of Statistics (NBS) released the Gross Domestic Product (GDP) figures for Q2 2022, reporting a real economic growth of +3.54%…