Q4 2020 GDP was reported last week and it showed Nigeria leaving recession – just. Q4 2020 growth was 0.11% year-on-year (y/y). The non-oil economy reached a respectable level of
How much higher are Nigerian Treasury Bill rates going to rise this year? We think that there are several months of rising rates ahead of us and that we should
What will be the Federal Government of Nigeria’s (FGN) next move when it comes to financing its deficit? Movements in the foreign exchange and open market operation (OMO) markets last
Last week the Monetary Policy Council of the Central Bank of Nigeria (CBN) concluded its two-day meeting by leaving its key policy rate unchanged at 11.50%. After two cuts during
The Monetary Policy Council (MPC) of the Central Bank of Nigeria concludes its bi-monthly meeting later today. The economy may be close to exiting recession and inflation is going up
When the World Bank recently published its Global Economics Prospects, we were surprised to see a 4.1% recession estimated for Nigeria in 2020. In our view, the Nigerian economy is
The Central Bank of Nigeria (CBN) follows a managed exchange rate policy, but is it moving towards a crawling peg? Last year saw several changes in the CBN’s official rate,
2020 was dominated by the Covid-19 pandemic, the crash in commodity prices and the global recession. Right? Not quite. Looking back over the past 12 months in Nigeria we reason
Nigerian market interest rates are on the rise. This marks the end of the long – over a year – march south. But what next? In our view, the key
Last week the price of oil, Brent crude, edged up over US$50.00/bbl, the first time we had seen this level since March. This raises hopes of much stronger public finances
