April 17, 2018

Gross Domestic Product

The Gross Domestic Product (GDP at 2010 constant prices) for quarter 4 of 2017 was ₦18,785,149.20, which is an increase from its 3rd quarter 2017, by 4.02%.


Average Inflation (CPI) for February 2018 is recorded to be 14.33%. This indicates a decrease from 15.13% recorded in January 2018.

Exchange Rate

The central official exchange rate for April 12th, 2017, was ₦305.05 for a US Dollar, ₦433.26 for a Pound Sterling and ₦375.73 for a Euro. Meanwhile, the parallel exchange rates stood at ₦360 to buy a US Dollar, ₦502 for a Pound Sterling and ₦440 for Euro.

Monetary Policy Rate and Maximum Lending Rate

The Monetary policy rate for January and February stood at 14% meanwhile the Maximum lending rate increased slightly from 31.39 in January 2018 to 31.40 in February 2018.

Oil Price

The crude oil price for Nigeria (Bonny light) is $US69.64 per barrel as at March 28, 2018. That for USA (WTI) was $US 66.28 and UK (Brent Crude) is $US 71.14 on April 12th, 2017

Financial Data

The opening balances of banks/discount houses for April 11th, 2018 is ₦530,163.25, and the net standing lending facility is ₦52,333.28, and the net standing deposit facility stood at ₦146,000.

Broad Money and Currency in Circulation

Broad Money for February 2018 stood at ₦24,019,092.23 which was an increase from the ₦23,831,915.72 of January 2018. On the other hand, currency in circulation fell from ₦1,945,444.20 in January 2018 to ₦1,937,337.46 in February 2018.

Stock Market Update

The highlights of the stock market as at April 12th, 2018 shows an All-Share Index of 40,738.13, from 407 deals valued at ₦108,411,051.02 with a volume of 19,661,677.00. Then the Equity capitalisation recorded ₦14,715,255,349,297.58 and the Bond capitalisation ₦9,935,263,848,375.33.      Noteworthy is the fact that the top gainers were FO and WAPCO while the top losers were Julius Berger and Access Bank.

Average prices for petrol, others drop in March — NBS

  • The average prices paid by consumers for Premium Motor Spirit (petrol), Kerosene, Liquefied petroleum gas (cooking gas) and Automotive Gas Oil (Diesel) dropped in March by 5.3% to N163.4 from N172.5 in February 2018, while price for Kerosene decreased by 6.79 percent to N269 in March from N288.57 in February 2018.
  • Average price for refilling a 5-kilogram cylinder of cooking gas declined by 3.03% to N2,091 from N2, 156 paid in February.
  • The price paid for diesel dropped by 1.65% to N206.4 in March from N210 average paid in February. Link….


CBN lifts forex market with $210m

  • The Central Bank of Nigeria (CBN), has injected $210 million into the Inter-bank Foreign Exchange Market. The bank offered $100 million to authorized dealers in the wholesale segment of the market, while the Small and Medium Enterprises (SMEs) segment received the sum of $55 million.

Sourced from: .

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