1.

Record Nr.

UNINA9910806982803321

Titolo

Nigeria : : Staff Report for the 2013 Article IV Consultation

Pubbl/distr/stampa

Washington, D.C. : , : International Monetary Fund, , 2014

ISBN

1-4843-5816-3

1-4843-5807-4

1-4755-9010-5

Edizione

[1st ed.]

Descrizione fisica

1 online resource (104 p.)

Collana

IMF Staff Country Reports

Disciplina

338.9

Soggetti

Economic development - Nigeria

Fiscal policy - Nigeria

Investments: Energy

Exports and Imports

Macroeconomics

Public Finance

Taxation

Business Taxes and Subsidies

Energy: Demand and Supply

Prices

Energy: General

International Lending and Debt Problems

National Government Expenditures and Related Policies: General

Public finance & taxation

Investment & securities

International economics

Banking

Oil, gas and mining taxes

Oil prices

Oil

Public debt

Expenditure

Petroleum industry and trade

Debts, External

Debts, Public

Nigeria Economic policy

Nigeria



Lingua di pubblicazione

Inglese

Formato

Materiale a stampa

Livello bibliografico

Monografia

Note generali

Description based upon print version of record.

Nota di contenuto

Cover; CONTENTS; CONTEXT; RECENT ECONOMIC DEVELOPMENTS AND OUTLOOK; A. Recent Economic and Policy Developments; B. Medium-Term Outlook and Risks; C. Inward and Outward Spillovers; ADDRESSING OIL THEFT/PRODUCTION LOSSES; STRONG ECONOMIC MANAGEMENT, NOTWITHSTANDING THE POLITICAL CYCLE; A. Preserving Fiscal Consolidation Through the Political Cycle; B. Monetary, Financial, and Exchange Rate Policies; C. Improving Competitiveness and Productivity; STAFF APPRAISAL; TABLES; 1. Millennium Development Goals, 1990-11; 2. Selected Economic and Financial Indicators, 2012-18

3. Balance of Payments, 2010-164a. Federal Government Operations, 2010-16; 4b. Consolidated Government, 2010-16; 4c. Government Operations, 2010-16; 4d. State and Local Governments, 2011-16; 4e. Extrabudgetary Funds (including ECA/SWF), 2011-16; 5a. Central Bank of Nigeria (CBN) Analytical Balance Sheet, 2011-16; 5b. Monetary Survey, 2011-16; 6. Financial Soundness Indicators: 2011-13; 7. Risk Assessment Matrix (RAM); FIGURES; 1. Real Sector Development, 2005-13; 2. External and Exchange Rate Developments, 2010-13; 3. Fiscal Developments, 2001-13

4. Monetary and Financial Developments, 2010-135. Key Indicators of the Oil Sector, 2005-12; 6. Oil Price Shock, 2013-18; 7. Fiscal Expansion, 2013-18; 8. Vulnerabilities in the Oil Sector, 2013-18; BOXES; 1. Authorities' Response to Past IMF Policy Recommendations; 2. Strengthening the Monitoring and Reconciliation of Oil Revenue Flows; 3. The Challenge of Fiscal Federalism in Nigeria; 4. Follow-up on the 2012 FSAP Recommendations; APPENDICES; I. Changing Trends in Oil Markets?; II: Gross Domestic Product (GDP) Rebasing and Implications; III. Oil Theft in Nigeria and Proposed Countermeasures

IV. Estimates of the Sustainable Non-Oil Primary DeficitV. External Sector Assessment; VI. Tracking Job Creation; VII. Trade Policy and Competitiveness: Agriculture in Nigeria; CONTENTS; FUND RELATIONS; JOINT WORLD BANK-IMF WORK PROGRAM, 2013-14; STATISTICAL ISSUES

Sommario/riassunto

This 2013 Article IV Consultation highlights Nigeria’s poverty and income inequality that remain high and social and governance indicators that are below averages for sub-Saharan Africa. Growth is expected to remain strong, driven by agriculture, trade, and services. Inflation should continue to decline, in line with a tight monetary policy, and a lowering trend in food prices from higher rice and wheat production. Transparency and governance in the oil sector should be enhanced, including by strengthening the regulatory framework through the passage of a sound Petroleum Industry Bill featuring stringent enforcement clauses.