Nigeria: Staff Report for the 2014 Article IV Consultation

March 30, 2015

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Nigeria: Staff Report for the 2014 Article IV Consultation, (USA: International Monetary Fund, 2015) accessed November 23, 2024

Summary

This 2014 Article IV Consultation highlights that inflation in Nigeria has remained in single digits for two years, and the banking sector, which has a strong capital base, is expanding credit. The trade surplus has been declining since the second quarter of 2013 on lower oil exports and continued strong growth of imports, and gross international reserves have been falling. The general government fiscal deficit and public debt have been kept low. The Executive Directors have commended authorities for progress in promoting Nigeria’s economic diversification and for their macroeconomic response to collapsing export prices.

Subject: Banking, Expenditure, External debt, Oil prices, Oil, gas and mining taxes, Prices, Public debt, Taxes

Keywords: Band vis-à-vis, Bureau de change, CR, Debt, Exchange rate, Gas and mining taxes, Global, ISCR, Market reaction, Naira-U.S. dollar exchange rate, Oil, Oil price shock, Oil prices, Sub-Saharan Africa, U.S. dollar

Publication Details

Pages:

92
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2015/084
Stock No:

1NGAEA2015001
ISBN:

9781484306307
ISSN:

1934-7685

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