Nigeria Economic Outlook
March 19, 2019
Incumbent President Muhammadu Buhari comfortably beat his main rival, former Vice-President Atiku Abubakar, in the 23 February presidential election, securing 55.6% of the votes compared to Abubakar’s 41.2%. Given that Abubakar’s market-oriented reform agenda could have triggered a major shift in economic policy, particularly for the management of the exchange rate regime and the all-important oil industry, those risks have largely dissipated with Buhari’s reelection and the status-quo to policymaking is thus set to remain going forward. Meanwhile, available data points to a slight loss of momentum at the start of the year, after economic growth hit an over three-year high in the final quarter of 2018. The PMI fell for the third month in a row in February which, coupled with a less upbeat outlook among firms in the same month, hint at reduced private sector dynamism in Q1 2019.Nigeria Economic Growth
The economy is expected to gain steam this year on the back of stronger household consumption and fixed investment growth. Although healthy oil production will continue to support growth, lower crude prices represent a key downside risk to the outlook, as it can both dent vital foreign exchange earnings and place public finances under more strain. FocusEconomics panelists see GDP increasing 2.3% in 2019, which is unchanged from last month’s estimate, and 2.8% in 2020.Nigeria Economy Data
Sample Report
Get a sample report showing our regional, country and commodities data and analysis.
Nigeria Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 14.47 | 0.0 % | Mar 20 |
| Exchange Rate | 306.4 | 3.08 % | Mar 20 |
| Stock Market | 1.1 | 0.0 % | Mar 19 |
Start Your Free Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
Nigeria Economic News
Nigeria: Policy continuity expected ahead following President Buhari’s reelection
March 19, 2019
On 27 February, Nigeria’s electoral commission declared incumbent President Muhammadu Buhari, head of the ruling center-left All Progressives Congress (APC), winner of the 23 February presidential election.
Nigeria: Inflation ticks down in February
March 15, 2019
Consumer prices rose 0.73% on a month-on-month basis in February, marginally below January’s 0.74% increase.
Nigeria: PMI slips to 20-month low in February
March 5, 2019
In February, the Stanbic IBTC Bank Nigeria Purchasing Managers’ Index (PMI) came in at 53.3, a 20-month low and below January’s 54.0.
Nigeria: Inflation holds steady in January
February 15, 2019
Consumer prices rose 0.74% on a month-on-month basis in January, matching December’s rise.
Nigeria: Growth picks up to over three-year high in Q4
February 13, 2019
Nigeria’s recovery gained traction in the final quarter of 2018, with growth accelerating to an over three-year high.
© Copyright: 2019 | Nigeria Economy | Privacy Policy | Cookies Policy | Terms & Conditions | Sitemap | RSS feed ...
