February 8, 2023/FBNQuest Research Today we turn our attention to the services account which is one of the drivers of the current account. As shown by our chart below, the services account recorded a slightly higher net deficit of almost USD4.0bn in Q3 ’22, or c.3.2% of GDP, compared with […]

February 8, 2023/United Capital Research According to the Central Bank of Nigeria (CBN), Nigeria’s external reserves declined by 7.6% y/y to $37.0bn in Jan-2023 compared to its $40.0bn print in Jan-2022. On a monthly basis, Nigeria’s external reserves fell by $86.6mn from $37.1bn at the close of Dec-2022. The decline […]

February 8, 2023/CSL Research Nigeria has witnessed an uptick in the number of trained skilled workers migrating to other countries, particularly to the United States, the United Kingdom and Canada. Many of these emigrants are graduates trained in Nigerian universities, which are highly subsidized by the government and take with […]