Saturday, December 30, 2017 08:00 AM / Proshare
From the Editor’s Desk
With leading indicators such as the purchasers manufacturing index, external reserve, nominal currency and dip in inflation all culminating to an exit from recession. This shows that output has improved but at large the fundamentals such as unemployment, misery index and per-capital income is under pin. Moreover the fear that growth will lag behind population growth, depict a cycle whereby growth might be too little too small to address poverty. Therefore, there are concerns of how much the nation can return back to an inclusive growth in 2018, especially one that is pre-election year.
In line with many analysts, we expect cycle to sustain a growth path in 2018; however such growth will be largely driven by the oil sector. Thus our growth forecast for 2018 lies between 2.5% to 2.8% obviously lagging behind population growth. While, we are of the opinion that the real sector will continue to readjust better but implantation lags that come with a pre-election will act as downside risk.
Fig 1: Projected Growth for 2018
Certainly further recoil in oil price is hard to justify, but the existing dynamic between both oil price and production levels support an accretion in reserves thereby providing some leeway for the central bank to reduce interest rate, most likely at the end of the first quarter of 2018.
Monday, January 01, 2018
Following the election of the General Assembly in October 2017, Nigeria will commence its service on the United Nations Human Rights Council today. The Federal Government will today commence the implementation of the 2017 Revised Import and Export Guidelines, while the registration to participate in the 11th Commonwealth Youth Forum closes today.
Tuesday, January 02, 2018
The CBN’s policy on the extension of settlement banking to all the clearing sessions will take effect from today.
Wednesday, January 03, 2018
ThinkAfrica’s Startup roundtable themed “Startup Nigeria: Innovation, Collaboration & Creation” will hold today in Lagos.
Thursday, January 04, 2018
The Nigerian Senate will hold talks with the Minister of State for Petroleum, Mr Ibe Kachikwu, and the Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Mr Maikanti Baru today in Abuja over the issue of Fuel Scarcity.
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