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Developments in the Agricultural Sector of the Economy during the Third Quarter of 1986
No full textHarvesting of grains and tubers was the dominant activity in the agricultural sector in most parts of the country during the third quarter of 1986. In spite of the lower-than-average amounts of rainfall recorded during the first half of the year, a bumper harvest of maize, rice, yams and cassava was reporte
Problems of Measuring Unemployment in Nigeria
No full textMuch as unemployment is dreaded in all market economies, the problems associated with its measurement in Nigeria are sometimes not addressed, if ever appreciated. To facilitate international comparison, uniform measurement methods have considerably narrowed down the difference in the concept of unemployment. Nevertheless, unemployment index seems to disguise the extent of the problem in Nigeria. Unless the desire to work for a wage is explicitly expressed, it is difficult to identify the unemployed. In other words, if the job-seeker is regarded as someone actively seeking wage employment, the concept of unemployment becomes less relevant in the context of a developing economy characterised by structural deficiencies. Available statistics from the labour registries are inadequate e~en for measuring the number of persons seeking wage employment, how much more the substantial unemployment/underemployment which exists outside the organised sector. Although this shortcoming is being overcome by the results of labour force sample surveys, the coverage remains, however, limited. Thrown into focus, therefore, is the urgent need to broaden the base and integrate the sources of labour statistics with a view to determining not only the amount of idle human resources but also the extent oflabour underutilisation. It is only when these problems are well articulated that prescribed solutions can be enduring
Statistical Section (June 1986)
No full textThis is a statistical representation of economic activities in Nigeria in June 198
Foreign Private Investment in Nigeria in 1984
No full textThis report presents the results of the Central Bank of Nigeria\u27s annual survey of Foreign Private Investment in the country in 1984. The survey was conducted through questionnaires sent to companies I whose capital structure was wholly foreign 2 or joint Nigeria/Foreign. The report is presented under the following subheadings: flow of foreign private capital, components of net capital flow, cumulative and net investments by country/region of origin and economic sectors, cumulative/net short and long term investment, cumulative and net investment in the manufacturing and processing sector by type of industry, stock of fixed asset at cost and at book value, cumulative and net reserves for depreciation, analysed by type of economic activity as well as components of changes in foreign share capital analysed by type of economic activities and structure of the cumulative paid-up capital. The report is concluded with a summary of the main development
Statistical Section (September 1986)
No full textThis is a statistical representation of economic activities in Nigeria in September 198
Central Bank of Nigeria Annual Report and Statement of Accounts for the Year Ended 31st December 1986
No full textCBN annual report and statement of accounts for 1986 covers economic performance including key economic indicators such as inflation rate, GDP growth, exchange rate stability, banking sector performance, monetary policy, financial stability, fiscal policy, and regulatory updates for 1986. The development in 1986 were mixed. The GDP at constant 1977/78 factor cost was estimated at N25,290 million, representing a decline of 3.3 per cent and the decline was largely due to poor performance of the manufacturing, crude petroleum, wholesale and retail trade sectors. The trajectory of monetary aggregates was relatively in the download direction. Money supply indicated a 1.2 per cent decline in 1986. Credit expansion exceeded the 10.6 per cent increase observed in 1985. Mainly due to improved food supply situation and the liquidity crunch which constrained consumer demand. Unemployment situation did not improve as fresh school-leavers continued to flood the market. The underlying problem in the external sector persisted, although the balance of payments showed a larger surplus of N1,946.3 million. The agricultural production further improved in 1986 despite the late arrival of rain. The index of industrial production declined by 3.4 per cent in contrast to the increase of 15.0 per cent in 1985. The index of mineral output fell by 2.5 per cent in contrast to the increase of 7.6 per cent in 1985. The growth of monetary aggregates decelerated. The decline was traceable to the sharp drop of N6.6 million in banking system\u27s other assets. Federal government budgetary operations were influenced by developments in the international oil market and measures adopted during the year to boost non-oil revenue. The year was also marked by budgetary discipline. The Bank also increased its lending to the Federal Government through ways and means advances which averaged N1,708.8 million a month in 1986
Small scale industries in Nigeria concepts, appraisal of some government policies and suggested solutions to identified problems
No full textThis paper analysed the concept of small-scale industries in Nigeria. After suggesting a modification to the extant definitions with a view to harmonising them, it appraised government small-scale industrial policy which is based on realising the conceptualised advantages of the small-scale paradigm. The analysis paid special attention to the funding of these enterprises. Whereas failure of the large-scale import-dependent assembly plants to propel the country into a satisfactory course of industrialisation necessitated the diversification of strategy to embrace the promotion of small-scale enterprises, achievement under the new strategy has not been commensurate with expectations in terms of the stated objectives which were economic self-reliance through the mobilisation of available local resources, employment generation, and industrial dispersal as well as mitigation of rural urban migration
Developments in the Financial System during the Third Quarter of 1986
No full textThe narrow measure of money stock, (Ml), declined during the third quarter due, on the one hand, to increases in quasi money and \u27other\u27 assets of the banking system and on the other, partially offsetting increases in foreign assets and in credit to the domestic economy. The broader measure, (M2), maintained an upward trend. The money and capital market both recorded moderate increases in the level activities during the quarter
A strategy for the development of small scale industries in Nigeria.
No full textThis paper presents a brief review of the attempts recently made by the Federal Government to promote the development of small- scale industries in Nigeria, and highlights some conceptual problems relating to the definition of a small-scale industrial establishment
Statistical table
No full textThis provides a statistical representation of economic activities in Nigeria during the period under revie