Analysts sampled by Business A.M. have maintained that Nigeria's economic recovery will be moderate as it continues to embrace the new normal despite the country posting an 8-year historical 9.7 per cent quarter on quarter growth in its gross domestic product$443 billion in real terms, which helped to place the country’s GDP growth as the best in the world ahead of China (2.6%), Japan (3%), USA (4%) and Columbia (6%).

Nigeria’s rising joblessness rate has continued to add to its worsening misery index and low human capital development, forcing analysts to canvass for functional and structural policy changes to counter the huge unemployment which continues to defy several investment funds, policies, and initiatives by the federal government to curb the excess job losses through support for the economy. The latest unemployment and underemployment statistics from the National Bureau of Statistics in Abuja showed that the labor force, which comprises of the population of working age between 15 and 64, increased to 122 million in the last quarter of 2020, 4.3% higher than the figure recorded in the second quarter of the same year, while the unemployment rate worsened to 33.3% from the 27.1% reported in the respective quarters, posting the worst performance on record.

Nigeria’s rising joblessness rate has continued to add to its worsening misery index and low human capital development, forcing analysts to canvass for functional and structural policy changes to counter the huge unemployment which continues to defy several investment funds, policies, and initiatives by the federal government to curb the excess job losses through support for the economy.
The latest unemployment and underemployment statistics from the National Bureau of Statistics in Abuja showed that the labor force, which comprises of the population of working age between 15 and 64, increased to 122 million in the last quarter of 2020, 4.3% higher than the figure recorded in the second quarter of the same year, while the unemployment rate worsened to 33.3% from the 27.1% reported in the respective quarters, posting the worst performance on record.

Economic experts have expressed concerns about the current twist within the Nigerian economic landscape which continues to put the Central Bank of Nigeria Monetary Policy Committee in a tight corner, providing them little room for a rate maneuver as they converge for the second statutory meeting.As the MPC meets Monday and Tuesday to deliberate on a number of indices to helpdecide whether to hold or tweak the rates, inflation has gotten in the way already reaching a four year high at 17.33%, as well as other major talking points such as the recent exit from the recession with minimal growth at 0.1% in Q4 2020, depleting external reserves in the face of rallying oil price in the global market.

Economic experts have expressed concerns about the current twist within the Nigerian economic landscape which continues to put the Central Bank of Nigeria Monetary Policy Committee in a tight corner, providing them little room for a rate maneuver as they converge for the second statutory meeting.
As the MPC meets Monday and Tuesday to deliberate on a number of indices to help
decide whether to hold or tweak the rates, inflation has gotten in the way already reaching a four year high at 17.33%, as well as other major talking points such as the recent exit from the recession with minimal growth at 0.1% in Q4 2020, depleting external reserves in the face of rallying oil price in the global market.

Augusto & Co., Nigeria's foremost credit rating agency, is projecting the country’s total output to grow at a rate of 2 per cent in 2021 on the back of the COVID-19 vaccine and the attendant improvement in investor sentiments globally and domestically, relatively higher prices of crude oil and consequently its demand. In its latest report released over the weekend, the agency highlighted that in the year 2021 some key industries in Nigeria will witness the impact of the global health crisis and that this will affect their performance.

Augusto & Co., Nigeria's foremost credit rating agency, is projecting the country’s total output to grow at a rate of 2 per cent in 2021 on the back of the COVID-19 vaccine and the attendant improvement in investor sentiments globally and domestically, relatively higher prices of crude oil and consequently its demand. In its latest report released over the weekend, the agency highlighted that in the year 2021 some key industries in Nigeria will witness the impact of the global health crisis and that this will affect their performance.

Data from the Nigerian Communications Commission shows total active internet subscribers in Nigeria declined by 1.95% or 3,004,3 to 151,296,836 in January 2021 from 154,878,203 in December 2020 while broadband penetration steeped to 42.93% from 45.02% in December 2020.Also, Nigeria's Foremost Gas Liquefaction company's incoming $7 billion Train 7, which is the country’s boldest effort in the gas business in nearly a decade, faces headwinds over alleged non-compliance yet with its core host’s participation in the construction of the multi-billion-dollar project.The Bonny Kingdom, an island community in Rivers State which saw early trades with European explorers some 150 years ago, is the ‘core host’ of Nigerian Liquefied Natural Gas's massive gas plant at Fatima. Other major facilities are the gas company’s water-wells, the residential area in Abalamabie.

Data from the Nigerian Communications Commission shows total active internet subscribers in Nigeria declined by 1.95% or 3,004,3 to 151,296,836 in January 2021 from 154,878,203 in December 2020 while broadband penetration steeped to 42.93% from 45.02% in December 2020.
Also, Nigeria's Foremost Gas Liquefaction company's incoming $7 billion Train 7, which is the country’s boldest effort in the gas business in nearly a decade, faces headwinds over alleged non-compliance yet with its core host’s participation in the construction of the multi-billion-dollar project.
The Bonny Kingdom, an island community in Rivers State which saw early trades with European explorers some 150 years ago, is the ‘core host’ of Nigerian Liquefied Natural Gas's massive gas plant at Fatima. Other major facilities are the gas company’s water-wells, the residential area in Abalamabie.

Recent data obtained from the Central Bank of Nigeria shows that Nigeria's external reserves have continued a southward downhill climb dropping as much as $1.38 billion on this journey.From $36.52 billion on January 25, 2021, the reserves fell to $35.14 billion exactly amonth later.The decline represents a marginal one per cent over a 30-day watch, but it comesamidst an environment that has witnessed increasing price of Brent crude, which hasrallied to about $66.28 a barrel in the global oil market.The current shades of events that have shown a positive rally in the crude oil market amidst Nigeria’s near zero foreign direct investment and very poor foreign exchange inflows as a result of the country’s needle-eye exports, along with negative market reactions to the state of liquidity, and significantly, little or no shift in the naira-dollar exchange rates, has signposted the importance of keeping and maintaining appropriate FX buffers.