ECONOMIC REVIEW FOR 2022 AND AN AGENDA FOR 2023

The Centre for the Promotion of Private Enterprise (CPPE) presents its economic and business environment review for 2022 and sets agenda for policy makers for 2023. Macroeconomic Environment The macroeconomic environment is a key driver of costs, profits, competitiveness, productivity and investment growth. This review focusses on four key macroeconomic variables: inflation, foreign exchange, and…

CPPE COMMENTS ON NOVEMBER INFLATION FIGURES

Like in many other parts of the world, the phenomenon of mounting inflationary pressures in the Nigerian economy is yet to abate.  It remains a major cause for concern for stakeholders in the Nigerian economy.  According to the National Bureau of Statistics [NBS], headline inflation accelerated to 21.47% in November as against 21.09% in October.…

Rising Inflation Worrisome, says Yusuf

Chief Executive Officer, Centre for the Promotion of Private Enterprise (CPPE), Dr Muda Yusuf has decried the mounting inflationary pressure as a major cause for concern on the outlook of the Nigerian economy. The National Bureau of Statistics (NBS) in its September 2022 report indicated that the nation’s inflation rose to 20.77 per cent during the month. …

Nigeria Needs Urgent Economic Reforms

The economy has transformed from a basically agrarian economy to an economy driven largely by services and oil and gas with the agricultural sector, contributing an estimated 60 per cent to the country’s Gross Domestic Product (GDP) in the 60s. Though the contribution of agriculture has reduced to about 26 per cent, the same cannot…

Nigeria Economy at 62

Over the past six decades the Nigerian economy has transformed from a basically agrarian economy to an economy driven largely by services and oil and gas. While the agricultural sector contributed an estimated sixty percent (60%) to the country’s GDP in the sixties, its contribution has reduced to about twenty six percent (26%) presently. Conversely,…

COMMENTS ON THE 2022 SECOND QUARTER GDP NUMBERS

The 3.54% GDP growth in the second quarter of 2022 marked the seventh consecutive quarterly GDP growth since the exit from recession in the fourth quarter of 2020. This report reflects the resilience of the Nigerian economy amid extreme macroeconomic challenges, galloping inflation, currency depreciation, foreign exchange illiquidity, high energy cost, heightened insecurity, weakening purchasing…