Q1 2024 GDP Highlights
NIGERIA’S GDP GREW AT 2.98% IN Q1’2024 vs 2.31% IN Q1’2023 Nigeria’s Gross Domestic Product (GDP) grew by 2.98% year-on-year in Q1 2024, as per Bloomberg’s estimate of 3.49%. This…
FINANCIAL MARKETS TODAY – 23 May 2024
FIXED INCOME MARKETS MONEY MARKETS Opening system liquidity worsened to -₦787.46 billion from -₦760.63 billion reported yesterday. Thus, the Open Repo Rate (OPR) increased by 178 bps to 31.72% while…
FINANCIAL MARKETS TODAY – 22 May 2024
FIXED INCOME MARKETS MONEY MARKETS Opening system liquidity relatively improved today to -₦760.63 billion from -₦945.95 billion reported yesterday. As a result, the Open Repo Rate (OPR) contracted by 152…
FINANCIAL MARKETS TODAY – 21 May 2024
FIXED INCOME MARKETS MONEY MARKETS Opening system liquidity decreased to -₦945.95 billion from -₦863.04 billion yesterday, pushing the Open Repo Rate (OPR) up by 121 bps to 31.46% and causing…
MPC HIGHLIGHT – MAY 2024
During today’s MPC meeting, Dr. Olayemi Cardoso, the Governor of the Central Bank of Nigeria, reiterated that the MPC’s primary focus is to achieve price stability. He also noted the…
FINANCIAL MARKETS TODAY – 20 May 2024
FIXED INCOME MARKETS MONEY MARKETS System liquidity is estimated to have opened in a deficit of -₦622.46 billion. Consequently, the Open Repo Rate (OPR) increased by 29bps to 30.25%, while…
FINANCIAL MARKETS WEEKLY – 17 MAY 2024
FIXED INCOME MARKETS MONEY MARKETS This week, system liquidity remained at negative levels and was further exacerbated by the FGN local bonds auction settlement of about ₦682.07 billion (Non-competitive allotment…
FINANCIAL MARKETS TODAY – 16 May 2024
FIXED INCOME MARKETS MONEY MARKETS System liquidity opened negative, despite showing an improvement from yesterday’s balance. It increased from -₦560.07 billion to -₦427.15 billion. Consequently, the Open Repo Rate (OPR)…
FINANCIAL MARKETS TODAY – 15 May 2024
FIXED INCOME MARKETS MONEY MARKETS Opening system liquidity plunged lower today from -₦323.25 billion yesterday to -₦560.07 billion today. Consequently, the Open Repo Rate (OPR) increased by 119bps to 30.88%,…
INFLATION WATCH – APRIL 2024
Inflation Watch – Nigerian Inflation accelerates to 33.69% in April. In April, Nigeria’s headline inflation increased to 33.69% year-on-year from 33.20% in March 2024 (Bloomberg’s estimate: 34.20%). However, monthly headline…
