Discussing the value of the naira in the forex market is beginning to sound like a broken record. What is more important to most consumers is the recovery in economic activity, output and investment. This, if accompanied with lower unemployment, will reduce the misery of most Nigerians, increase the confidence of investors and improve the quality of life.

The month of May is likely to be an interesting month with the release of key statistics. GDP Q1’17 figures are to be released coupled with the release of inflation numbers. The direction of these statistics will govern the decision of the MPC when it meets later in the month of May. This meeting is likely to mark the beginning of the path towards a more accommodative monetary stance.

This economic bulletin discusses some broad macroeconomic issues and attendant policy risks.