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
Last week saw the Central Bank of Nigeria (CBN) announce changes in the foreign exchange (FX) market and in its Cash Reserve Ratio (CRR) regime. The changes in the FX
Interest rates have been falling all year and the government is running a deficit. So, is it safe to assume that the government is issuing a lot more Treasury Bills
The Monetary Policy Council (MPC) of the Central Bank of Nigeria (CBN) meets today and is due to deliver its verdict on its Monetary Policy Rate (MPR) tomorrow. We think
As of Friday, the Nigerian Stock Exchange was the world’s best-performing equity market in local currency terms and its second-best performer in US dollar terms. The market was up 30.53%
The electoral victory of Joe Biden as the next President of the United States of America has positive consequences for Nigeria, we believe. He is likely to give Africa a
