NIGERIAN ECONOMY STATISTICS
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.
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.
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
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….http://www.vanguardngr.com/2018/04/average-prices-petrol-others-drop-march-nbs/
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: .https://www.thhisdaylive.com/index.php/2018/02/06/cbn-lifts-forex-market-with-210m/