Analyst: Ibukun Omoyeni* Consumer price inflation ascended to 28.92% y/y, 20bps lower than our estimate (Vetiva: 29.12% y/y) and 72bps above the prior month (Nov23: 28.20% y/y). This represents the highest turnout since August 1996. We attribute the turnout to elevated transport prices, impediments in the agricultural sector, and year-end festivities. On a month-on-month basis,...
From tight ropes to turning points The global economic landscape in 2024 is painted with mixed hues. While anxieties over inflation and recession linger, whispers of a slowdown in major economies offer some potential relief. However, simmering tensions in the Middle East, particularly between Israel and Hamas, cast a shadow over this fragile optimism… In...
Analyst: Ibukun Omoyeni* In Q3’23, Nigeria’s real GDP growth slowed to 2.54% y/y, 9bps lower than our estimate (Vetiva: 2.63% y/y) and 30bps higher than the prior year (Q3’23: 2.25% y/y). We attribute this outcome to better oil production outcome, improved embrace of digital financial services platforms, and the negative passthrough of subsidy removal to...
Executive Summary. The world has seen a significant increase in economic activity as countries have reopened their economies and supply chains have eased. China has been at the forefront of this recovery, with its economy reopening and supply chains easing. However, the Ukraine war has had a significant impact on the global economy. The conflict...