Public Debt in Nigeria
Nigeria - Public Debt
Sequential data indicates that activity strengthened somewhat in the second quarter, following sluggish growth in Q1 that was weighed on by lower oil output as a result of pipeline leakages. Due to faster expansions in output and new business, the PMI bounced back from May’s near two-year low in June, bringing the Q2 average above that of Q1. This, combined with buoyant credit growth to the private sector in April–May, and a marked improvement in business confidence in Q2—propped up mainly by the construction and trade sectors—hint at more upbeat business dynamics. Meanwhile, after opting not to endorse the African Continental Free Trade Area (AfCFTA) agreement in March amid pressure from manufacturers and labor unions, President Muhammadu Buhari finally signed the deal on 7 July. Boasting the largest consumer market in the continent, this should strengthen the pact and boost overall intra-regional trade.Nigeria - Public Debt Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Public Debt (% of GDP) | 18.6 | 17.5 | 20.3 | 23.4 | 25.3 |
Source: IMF
Nigeria Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 14.27 | 0.0 % | Jul 11 |
| Exchange Rate | 306.5 | 3.08 % | Jul 11 |
| Stock Market | 0.1 | 0.0 % | Jul 11 |
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Economic News
Nigeria: Inflation eases in June
July 15, 2019
Consumer prices rose 1.07% on a month-on-month basis in June, down slightly from May’s 1.11% climb, which had marked the sharpest increase in nearly a year.
Nigeria: PMI bounces back from near two-year low in June
July 3, 2019
The Stanbic IBTC Bank Nigeria Purchasing Managers’ Index (PMI) climbed to 54.8 in June from 52.9 in May, which had marked the lowest reading since June 2017.
Nigeria: Inflation holds steady in May
June 17, 2019
Consumer prices rose 1.11% on a month-on-month basis in May, up from April’s 0.94% climb and the sharpest increase in 10 months.
Nigeria: PMI falls to near two-year low in May
June 7, 2019
The Stanbic IBTC Bank Nigeria Purchasing Managers’ Index (PMI) edged down from 55.5 in April to 52.9 in May, the lowest reading since June 2017.
Nigeria: Central Bank stays put in May
May 21, 2019
At its 20–21 May meeting, the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) left the monetary policy rate as well as all other monetary policy parameters unchanged, broadly in line with market expectations.
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