Fiscal Balance in Nigeria

Nigeria Fiscal Balance | Economic News & Forecasts

Nigeria - Fiscal Balance

On 16 February, Nigeria’s electoral commission unexpectedly announced the postponement of the general election by one week due to logistical reasons, just hours before polls were scheduled to open. The move has further fueled uncertainty over the outcome of the tight presidential race between incumbent President Muhammadu Buhari and Atiku Abubakar, the main opposition candidate. Although a Buhari victory will likely translate into a continuation of status-quo policy ahead, Abubakar’s business-friendly economic agenda hints at the possibility of a policy shift, particularly in the management of the foreign exchange regime and vital oil industry. The election comes on the heels of recently-released national accounts data which revealed the economy gathered momentum in the final quarter of 2018, with growth hitting an over three-year high on the back of a broad-based expansion within the non-oil sector. The all-important oil and gas sector, however, remained in the doldrums and contracted for the third consecutive quarter in Q4 amid lower oil production and easing global crude prices, weighing on overall activity.

Nigeria - Fiscal Balance Data

2013  2014  2015  2016  2017  
Fiscal Balance (% of GDP)-1.4  -0.9  -1.6  -2.2  -     

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Note: General government balance as % of GDP
Source: Central Bank of Nigeria

Nigeria Facts

Bond Yield14.710.0 %Feb 21
Exchange Rate306.33.08 %Feb 21
Stock Market1.10.0 %Feb 21

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