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Developments in Nigeria\u27s External Sector during the Fourth Quarter of 1987
No full textTransactions in foreign exchange through the Central Bank resulted in a net inflow of N495.7 million during the 4th quarter of 1987, as against a net inflow of Nl,184.5 million in the preceding quarter. This development increased the official reserves from N4, 159.0 million at the end of the 3rd quarter to N4,654. 7 million at the end of 1987. However the foreign exchange position was far from comfortable as the level of reserves could cover barely two months\u27 imports
Statistics (June 1987)
No full textThis is a statistical representation of economic activities in Nigeria in June 198
The Structural Adjustment Programme: the Journey so Far
No full textThe SAP was introduced to achieve the following objectives: (i) To restructure and diversify the productive base of the economy in order to reduce dependence on the oil sector and imports; (ii) to achieve fiscal and balance of payments viability over the period; (iii) to lay the basis for sustainable non-innationary or minimal inOationary growth; (iv) to lessen the dominance of unproductive investment in the public sector, improve the sector\u27s efficiency and intensify the growth potential of the private sector
Inter-Sectoral Financing in Nigeria: 1986
No full textThe report shows that the domestic economy was able to finance a sharp increase in capital formation in 1986. Insurance, Oil and Non-oil Businesses and Households, were the net surplus sectors while the governments (Federal and State), Commercial Banks, and OJi.er financial institutions excluding Insurance Companies were the net deficit sectors. Analysis of the financial intermediation during the year showed that lending by the banking system to the economy increased by subtantially more than the increase in the various sectors\u27 deposits with the banks. Activities in the financial markets were dominated by transactions in foreign exchange which accelerated sharply during the year. There were also sizeable disposals of investments in government debt by commercial and merchant banks and of currency and deposits by the business sectors
Statistics: agricultural sector, external sector, financial system, and foreign private investment
No full textThis is a compilation of different tables used in the volume for development during the third quarter of 1987, they include recurrent expenditure, capital expenditure, current revenue of the Federal Government, principal solid materials, electricity generation, agricultural commodities, banking system credit to the economy etc
Report on Retail Price Indices of Selected Consumer Items in Lagos Area during the Second Quarter of 1987
No full textThe Report on the retail price movements was compiled from data coilected during bi-monthly market surveys conducted in thirteen Markets in the Lagos area. The indices are computed on a monthly basis and aggregated over a period of three months for the relevant quarter
Developments in the Financial System during the Fourth Quarter of 1987
No full textGrowth in monetary aggregates accelerated during the fourth quarter, as the narrow measure of money stock (Ml) rose substantially by 20.2 per cent, compared with 5.0 per cent in the preceding quarter. The major factors responsible for this increase were increased government reliance on bank credit to bridge budgetary gaps and the traditional seasonal rise in demand for credit by the private sector. The broad money (M2) also rose as a result of the rise in Ml and the expansion in commercial banks\u27 time and saving deposit liabilities, following the enhanced yield on these deposits
Performance of the Manufacturing Sub-Sector during the First Quarter of 1987
No full textThis report presents the results obtained from an impressionistic survey conducted by the Central Bank of Nigeria to assess the performance of the manufacturing sub-sector during the first quarter of 1987. During the survey, 135 firms, covering 20 industrial sub-groups, were contacted and 48.8 per cent response rate was achieved
Developments in Nigeria\u27s External Sector during the Second Quarter of 1987
No full textTransactions in foreign exchange through the Central Bank of Nigeria resulted in a net inflow of N 189 .3 million during the second quarter of 1987, in contrast with a net outflow of N819.0 million in the preceding quarter. As a result, the level of official reserves moved up from N2,785 .2 million in March toN2,974.5_million at the end of June. The increase notwithstanding, the June-end level of reserves was N629. 7 million lower than the December 1986 level and was adequate to finance only 1.8 months of the foreign exchange obligations at the prevailing rate of disbursements
Developments in the Agricultural Sector during the Fourth Quarter of 1987
No full textWith the emergence of the dry season and harmattan in most parts of the country, very little farming activity took place during the fourth quarter of 1987. Rather, some northern states, namely, Bauchi, Niger and Sokoto reported serious drought with grasshopper infestations which damaged thousands of hectares of farm crops. However, a total of 124,788 metric tonnes of fertilizers were distributed to farmers across the country in preparation for the next farming season. This figure represents a decrease of 41.6 per cent over the level in the preceding quarter