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July 23, 2021 Economic and Market Report –Week-ended July 23, 2021

Global Economy The Governing Council of the European Central Bank (ECB) elected to keep the key policy rate unchanged at 0.00% at its July policy meeting. The Council noted that the decision was hinged on the need to push inflation higher and mitigate the risk posed by the Delta variant of the COVID-19 pandemic on […]

July 16, 2021 Headline Inflation Sustains Deceleration

Nigeria’s headline inflation moderated by 18bps to 17.75% y/y in June 2021 (May: 17.93% y/y) – the third consecutive month of decline and the lowest since February 2021 (17.33% y/y). The outturn is 8bps lower than Cordros’ estimate (17.83% y/y) and 5bps less than Bloomberg’s median consensus estimate (17.80% y/y), with the deviation coming from […]

July 3, 2021 Ecosystem collapse: Global GDP risks $2.7trn decline annually –WB report

The World Bank estimates that the collapse of select ecosystem services provided by nature can result in a decline in global Gross Domestic Product (GDP) of 2.7 trillion dollars annually by 2030. The bank, in a statement in Washington on Friday, said this was according to a newly published report, adding that Sub-Saharan Africa and […]

Economic and Market Report – Week-ended July 02, 2021

Global Economy In our recently published H2-21 Global macroeconomic outlook (see report: Navigating the Uneven Path of Recovery), we reviewed global macroeconomic activities in H1-21 and discussed our views on what we expect in the second half of the year. The global economy appears to be decoupling itself from the havoc caused by the pandemic […]

H2-21 Outlook –Navigating the Uneven Path of Recovery

After a tumultuous year of extreme volatility, a relative calmness has been restored to the financial market. While the positive sentiments that pervaded the equities market in H2-20 extended into the early part of the year, it was short-lived as earlier-than-anticipated reversal in the yields on fixed income (FI) instruments dampened appetite for stocks. In […]

Public Debt: Recent Currency Devaluation to Heighten Debt-Service Burden

The Q1:2021 Public Debt Stock report published by the NBS this week showed a minuscule 0.6% q/q increase in Nigeria’s total debt profile to ₦33.1tn from ₦32.9tn as at end of 2020. We attribute the slow increase in the debt figure in Q1:2021 to the late approval of the borrowing plan of ₦4.6tn (domestic ₦2.3tn; […]

June 12, 2021 Q1:2021 Foreign Trade Statistics Report: Nigeria’s Woes Deepen on Lower-than-Expected Crude Oil Earnings

Fresh data emerged this week on the worrisome state of Nigeria’s merchandise trade position with the rest of the world. According to the National Bureau of Statistics (NBS), Nigeria recorded a Goods trade deficit of ₦3.9tn in Q1:2021 (2.6% of GDP), the highest in more than twelve successive quarters. This was jointly driven by a […]

March 22, 2021 Nigerian Economy and Financial Markets: A Blurry Path to Recovery

In our 2020 Outlook report, titled Nigeria in the New Decade: Nothing Ventured; Nothing Gained, we had reviewed the performance of the Nigerian economy over the last decade and highlighted critical imperatives necessary to restore the nation on the path of prosperity in the new decade. We noted that while economic performance in the last […]

Nigeria’s Misery Index Worsens

Q4:2020 Labour Market Statistics: Youth Unemployment at an All-time High The Nigerian Bureau of Statistics (NBS) released the labour statistics for Q4:2020 and we summarise the highlights. Interestingly, the NBS was able to conduct the survey through face-to-face interviews following the lifting of restrictions imposed by the pandemic compared with the Computer Assisted Telephone Interview […]

March 1, 2012 Cutting Down On Travel Costs

Even with Skype and Facebook today’s business person still has a lot of travelling to do. Be that as it may, we have to keep our expenses down and business trips are major money guzzlers. Here are a few ways to keep these costs down. Social network sites: Most (perhaps all) airlines and road transport […]

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