Category: Monthly Market Report

Macroeconomic Review Sustained Growth in the Nigerian Economy, with Q3 2021 GDP at 4.03% year-on-year Nigeria sustained its growth trajectory for the fourth consecutive quarter, as the economy recorded a real growth rate of 4.03% year-on-year in Q3 2021. Although this expansion of 4.03% reflects a decline of 0.98% when compared to Q2 2021 growth… Continue reading Monthly Financial Market Update – November 2021

Macroeconomic Review Global Crude Oil Prices Soar on Energy Supply Concerns and OPEC+ Decision International benchmark Brent crude prices soared through October, just as industries began to recover fully from the effects of the last year’s demand dip caused by the pandemic. During the month, oil prices rose swiftly as the Organization of Petroleum Exporting… Continue reading Monthly Financial Market Update – October 2021

Macroeconomic Review Foreign Reserve rise to 18-Month High Nigeria’s foreign reserves rose to its highest in 19 months, growing by ca US$2.58bn in September to US$36.60bn. The expansion can closely be tied to a sustained increase in global crude oil prices, with Brent crude oil price trading at its highest level in 3 years at… Continue reading Monthly Financial Market Update – September 2021

Macroeconomic Review: Nigeria’s GDP expands 5.01% Y-o-Y in Q2:2021… Highest Rate since 2014 Nigeria’s Real gross domestic product (GDP) increased by 5.01% in Q2:2021, reflecting the third consecutive quarter of growth, supported by the gradual return of business and economic activity levels seen prior to the implementation of the lockdowns necessitated by the Covid-19 pandemic.… Continue reading Monthly Financial Market Update – August 2021

Macroeconomic Review: External Reserves Rise as Oil Prices Remain on the Uptrend Global crude oil prices maintained an upward trajectory in July, with Brent crude gaining ca +1.60% M-o-M to trade at $76.33pb while West Texas Intermediate crude (WTI) also gained ca +0.65% M-o-M to trade at $73.95pb by the end of the month. This… Continue reading Monthly Financial Market Update – July 2021

Headline Consumer Price Index (CPI) figures for May settled at 17.93% Y-o-Y vs 18.12% recorded in April 2021. The reduction in headline inflation was largely due to…