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Programme Completion Report

Policy Development Facility Phase II (PDF II) was a flexible, rapid-response facility set up to support Champions of Change in implementing economic and social policies that help reduce poverty in Nigeria. Funded with UK aid from the UK government, PDF II’s goal was to provide Champions of Change with improved capacity and evidence to help them pursue vital economic and social reforms.

As the successor to PDF, PDF II began operations on 1 April 2015 and ran for five years, ending on 31 March 2020.

This document chronicles the achievements, impacts and long-term benefits of Policy Development Facility Phase II

CBN forex dialogue report (I)

In June 2015 the Central Bank of Nigeria restricted the sale of foreign currency for the purchase of certain items following a slump in government revenue resulting from a decline in crude oil prices. The decision aimed to conserve foreign reserves, facilitate the resuscitation of domestic industries and improve employment generation, but proved unpopular, particularly due to its unintended impact on small businesses.

Against this background, the Central Bank of Nigeria forex policy dialogue was held in September 2015 to examine the impact of the foreign exchange policy on small and medium-sized businesses and citizens, gain a better understanding of the bank’s plans and seek alternatives and next steps. This event report sums up the key messages to emerge from the dialogue.

REFORM OPTIONS FOR REDUCING THE TIME, COST, AND NUMBER OF PROCEDURES FOR TRADING ACROSS BORDERS IN NIGERIA

The lack of improvement and deterioration in Nigeria’s export trade performance rankings such as measures of time and cost associated with exporting and importing a standardized cargo of goods reinforces the need for Nigeria to undertake urgent and extensive reform to improve its trading across borders performance. This research provides immediate, medium and long term reform options.

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