Macros
Macroeconomic data from Nigerian.
Nigeria’s foreign reserves loses $3.43 billion in 2022
Nigeria’s foreign reserves closed out 2022 at $37.1 billion, losing $3.43 billion compared to the $40.52 billion at the beginning...
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2022 and Nigeria’s struggles with high inflation rate
According to the NBS, inflation increased steadily throughout the year, rising from 15.6% in January to 21.5% in November
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Nigeria’s economy receives net loans of N15.46 trillion in 11 months
Credit to the Nigerian economy surged to unprecedented levels in November 2022, reaching an all-time high of N64.22 trillion
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Christmas is bad for inflation – CBN
Members of the monetary policy committee of the central bank worry that Christmas spending will exacerbate inflation.
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High food and consumer prices force Nigerians to ration for Christmas and New Year holidays
Many Nigerians are having to ration their spending during this Christmas season due to high consumer costs across the country
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Nigeria’s wheat import drops as trade with Russia suffers major fall
Nigeria imported durum wheat worth N753.6 billion in the first nine months of 2022, a 16.1% decline compared to same...
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Manufacturing sector tops as Nigeria generates N625.4 billion VAT in Q3 2022
The Federal Government of Nigeria (FGN) generated a sum of N625.39 billion as value-added tax in the third quarter of...
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Nigerians borrowing less due to rising interest rates – CBN
Consumer credit outstanding accounted for 7.22% of total credit to the private sector
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Only six banks account for 68.7% of total deposits in Nigeria
Net loans and advances increased by 3.19% to N3,023.61 billion as of June 2022
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FG records N6.2 trillion deficit in H1 2022 due to N2.1 trillion revenue shortfall
A report by the CBN noted that the overall deficit is indicative of an expansionary policy stance
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