The exchange rate between the naira and the US dollar closed at N410.5/$1 at the Investors and Exporters window.
Nigeria’s Gross Domestic Product (GDP) contracts by 1.92% in real terms in 2020 as the economy posts a real GDP growth of 0.11% in Q4 2020
The economy is projected to exit recession in 2021, supported by the gradual normalization of economic activities.
The national case count rose to 100,087 confirmed cases and 1,358 covid related deaths as of 10th January 2021.
The manufacturing sector relapsed in December from 50.2 index points recorded in the month of November 2020.
This represents the highest number of daily cases recorded since the outbreak
The contraction in the oil sector indicates 7.26% points lower than the growth recorded in the previous quarter (Q2 2020, -6.63%)
The IGR generated by the 36 states including the FCT in the first half of the year, dipped by 11.7%.
As Nigeria marks her independence anniversary, it is imperative to Xray how the economy has performed in the past decades.
The Governor of the CBN has announced the reduction of MPR from 12.5% to 11.5%.
