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Nigeria’s Monetary Policy Rate (MPR) stood at 12.5% as at August 2020. The MPR was pegged at 14% for over 20 months from July 2016 before it was recently revised by the Committee to 13.5% in March 2019 and further revised downwards in May 2020.
The MPR is the rate at which the Central Bank of Nigeria lends to the deposit money banksRead More
On a quarterly basis, Nigeria's GDP dipped at -6.10% in real terms in the second quarter of 2020. Comparing this to the corresponding quarter of 2019 which recorded a growth rate of 2.12%, this indicates a decrease of -8.22% points and -7.97% points decrease compared to the growth rate of 1.87% recorded in Q1, 2020.
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