Imports in Nigeria
Nigeria - Imports (percent change)President Muhammadu Buhari’s convincing victory in the presidential election was reinforced by his All Progressives Congress (APC) party also winning a majority in the National Assembly, which should make legislating easier ahead. The uncertainty surrounding the election cycle, however, seems to have dented economic activity somewhat, after growth hit an over three-year high in Q4 2018. Although the PMI gained ground in March, largely owing to faster output growth and continued job creation, the quarterly average landed below that of Q4. This, coupled with confidence among firms edging lower in Q1, points to a slight loss of private-sector dynamism at the start of the year. Meanwhile, at the conclusion of its Article IV visit to the country on 3 April, the IMF urged authorities to ramp up reform efforts ahead, particularly in overhauling the tax code, reducing Central Bank intervention in the economy, loosening foreign exchange restrictions and strengthening banking-system regulation.
Nigeria - Imports (%) Data
|Imports (annual variation in %)||-3.8||19.9||-15.0||-32.7||-7.3|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||14.41||0.0 %||May 13|
|Exchange Rate||306.5||3.08 %||May 13|
|Stock Market||1.1||0.0 %||May 06|
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May 15, 2019
Consumer prices rose 0.94% on a month-on-month basis in April, up from March’s 0.79% climb.
May 6, 2019
The Stanbic IBTC Bank Nigeria Purchasing Managers’ Index (PMI) edged up from 53.6 in March to 55.5 in April, hitting a five-month high.
April 16, 2019
Consumer prices rose 0.79% on a month-on-month basis in March, marginally above February’s 0.73% increase.
April 3, 2019
In March, the Stanbic IBTC Bank Nigeria Purchasing Managers’ Index (PMI) came in at 53.6, slightly above February’s 20-month low of 53.3.
March 26, 2019
At its 25–26 March meeting, the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) cut the monetary policy rate from a record-high of 14.00%, which had remained in place since July 2016, to 13.50% in a move that took market analysts by surprise.