Macro-Economic News
Macroeconomic data from Nigerian.
Crude oil export pushes Nigeria’s balance of payment surplus of $2.6 billion in Q1 2022
Nigeria’s balance of payment account surged significantly in the first quarter of 2022 to $2.58 billion from $54.22 million recorded...
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How Nigeria’s Excess Crude Account got depleted
Despite the rally in the price of crude oil, Nigeria’s excess crude account has now fallen to a record low...
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US slips into recession after GDP contracts by 0.9% in Q2 2022
The US has recorded a 0.9% contraction in its gross domestic product in the second quarter of 2022, following a...
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United States’ Federal Reserve raises interest rate by 0.75%
The Federal Reserve has raised its benchmark interest rates by 75 basis points for the second consecutive month in a...
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FG projects Nigeria’s GDP growth at 3.75% in 2023, and 3.30% in 2024
The Federal Government has projected that Nigeria's real GDP growth will rise to 3.75% in 2023, from a revised projection...
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Nigeria spends 118% of revenue on debt service
Recent data released by the Ministry of Finance, Budget and National Planning reveal that Nigeria’s debt service cost surpassed its...
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World Bank says Nigerians got richer as Income Per Capita surges to $5,250 in 2021
The World Bank’s latest Gross National Income per capita report shows that Nigeria’s gross national income per capita has surged...
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Nigeria earned $2.9 billion from non-oil sector export in Q1 2022 – Emefiele
The CBN Governor has said that the country achieved about $2.9 billion from the non-oil export proceed as at the...
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Cost of making Jollof Rice rises to N9,311 per pot
The average cost of cooking a pot of Jollof Rice went up from N8,595 to N9,311 at the end of...
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UK inflation hits a 40-year high of 9.4% in June
U.K. inflation rose fr another new 40-year high in June, driven by the increasing food and energy prices which continues...
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