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Sunday, October 14, 2018 08:00
AM / Proshare Content
Nigeria: Economic Dashboard
@ 121018
From the Editor’s Desk
During the week, there was a flurry of economic
data hinting on the current position of qualitative indicators, which hinge
largely on the health of human endeavors. Although, such indicators are
backward looking in nature, however they serve as a barometer in measuring the
effectiveness of policy over time.
The National Bureau of
Statistics, Nigeria published the Human Developmental
Indices for 2016, the report showed a drop in Gross
National Income (GNI) from 0.43% in 2013 to 0.39% in
2016. At the same time pinpointing to dip in GNI as a result of the recession
witnessed in 2016.
Moreover, the weakness in household consumption,
dip in export revenue and the slack in private investment made the slump in GNI
inevitable. The survey carried out by the Bureau showed that 53.1% of
Nigerians are considered to be poor as at the end of 2016.
Fig 1: Population Considered to be Poor
Source: UNDP
OXFAM’s report on commitment to reducing
inequality (CRI) for the year 2018, ranked Nigeria at the bottom.
Therefore, Nigeria is ranked 157 when it comes to tackling inequality. Even
though government is aware of the growing inequality. Regardless, the lean
expenditure by government on health, education and social protection is largely
responsible for the nation being ranked at the bottom of the CRI index.
More worrisome is the lack of alignment between
projects and plans as the existing social intervention program (SIP) have
failed to stall the hemorrhage in social wellbeing.
Holistically, the fragile recovery have come
short in denting poverty, evidently factors responsible for the weakness
in qualitative indicators have become more accentuated than before.
Obviously, Nigeria is need of
more income policies to Foster FDI and drive productivity
so as to give GNI the desperately needed bite.
In the week ahead, the
National Bureau of statistics, Nigeria (NBS) will make
available the Consumer Price Indexes (CPI) for the
month of September 2018. A further strengthening in the concave is
expected due to an upshot in food inflation coupled with rising Naira
liquidity.
Fig 2: Treasury Bill Rate and Inflation
Source: CBN
In contrast to the past, treasury bill rate
largely hovered below inflation rate. Currently, the treasury bill rate
has shot past inflation underpinning the growing cost of managing liquidity
coupled with the uptick in inflation expectation while convexity is a distant-
off. Regardless, an uptick in treasury bill seems
imminent.
News
Post: Human Developmental Indices
Other Developments
Monday, October 15, 2018
Cutix Plc will on this day be marked down by the NSE having declared a dividend of N0.20k
The National Bureau of Statistics will on this day release the Automotive Gas Oil, Liquified Petroleum Gas,
National Household Kerosene and Premium Motor Spirit Price Watch for September 2018
Tuesday, October 16, 2018
The National Bureau of Statistics will on this day release the Comsume Price Index and Inflation Report for September 2018
Wednesday, October 17, 2018
The National Bureau of Statistics will on this day release the Selected Food Prices and Transport Fare Watch
for September 2018 while FirstBank of Nigeria will
on this day hold a three-day Financial Technology (FinTech) summit titled The Future of Banking – the Role of AI and
Big Data in Lagos.
Thursday, October 18, 2018
PZ Cusson and Royal Exchange Plc, will on this day hold its Annual General Meeting in Abuja and Lagos respectively.
The National Bureau of Statistics will on this day release the Labour Force Statistics Report vol 2 Q4 2017
– Q1 2018 while the Nigeria-South Africa Chamber of Commerce
Breakfast Meeting
will hold same day with theme The True Situation of Electric Power in
Nigeria Today.
The AfricanWIT will on this
day launch its project on African Women in Technology and Business
in Lagos while NigeriaCom
2018 will hold same day with the theme Distribution strategies to capitalize on the
potential of digital broadcasting in Lagos
Friday October 19, 2018
The Nigerian Stock Exchange will on this day hold its Market Data Day 2018 with the Theme Digitalization, Disruption and Financial Inclusion in Lagos
The Abuja Blockchain & AI Round-Table Conference 2018 will hold this day with the Theme BIG Tech For Small Business: How The Blockchain Technology in Lagos
Saturday October 20, 2018
The National Bureau of Statistics will on this day release the Sectoral Distribution of Value Added Tax (Q2 2018) Report.
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