Industry in Nigeria

Nigeria Industry | Economic News & Forecasts

Nigeria - Industry

Available data suggests economic activity remained relatively weak in the final quarter of 2018, following a modest showing in Q3 which was propped up by higher oil production. The PMI edged down in December and brought the Q4 average below that of Q3’s, signaling waning momentum of business activity towards the end of the year. On the demand side, multi-year high unemployment in Q3 coupled with still-elevated inflationary pressures through year-end likely weighed on private consumption in Q4. This comes against the backdrop of the upcoming presidential election of 16 February which is set to be a two-horse race between incumbent President Muhammadu Buhari and Atiku Abubakar, a businessman and former vice-president. Although both candidates take a similar stance on certain economic issues, they differ sharply over the management of the foreign exchange system and the vital oil industry. Thus, were Abubakar to win, the possibility arises that economic policy is reoriented going forward.

Nigeria - Industry Data

2013  2014  2015  2016  2017  
Industrial Production (annual variation in %)-0.1  6.0  -3.4  -9.4  -3.6  

Sample Report

5 years of economic forecasts for more than 30 economic indicators.

Download

Nigeria Industry Chart


Nigeria Industry
Note: Industrial production, annual variation in %.
Source: Central Bank of Nigeria

Nigeria Facts

ValueChangeDate
Bond Yield14.970.0 %Jan 30
Exchange Rate307.23.08 %Jan 30
Stock Market1.20.0 %Jan 28

Sample Report

Get a sample report showing our regional, country and commodities data and analysis.

Download

Request a 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.

Sign Up

Economic News

Search form