Capital Importation And Budgetary Allocation (Oil And Gas)
Capital Importation (US$ Thousand)
Investment rise sharply in 2016Q2
Budgetary Allocation (Billion )
Capital vs Recurrent expenditure, closing the gap?
Capital Importation: Investment in the oil and gas sector has remained low since 2009. However, investments into the sector fell more deeply in 2015, on the account of persistent global and domestic challenges to the sector. However, it increased sharply in 2016Q2 on the account of increased disbursement in the sector by the CBN for the repair of damaged oil and gas pipelines.
Budgetary Allocation: Recurrent spending has continued to rise as capital spending fall (or rise marginally) in annual national budget allocation since 2009. However, considerable convergence capital and recurrent expenditure is recorded in 2016 budget, signalling government interest in improving the oil and gas sector.
Monetary Policy Rate: The fluctuations in MPR reflect CBNs intermittent effort to promote growth, stymie inflation or incentivize capital flows. Particularly, the rise in MPR in 2016Q1 was effort to
Appropriation Act (Budget): Capital expenditure remarkably increased in 2016 relative to preceding year, on the account of the present governments renewed commitment to infrastructure development.
91-Day Treasury Bills: T-bill rate has highly fluctuated overtime on the account of the rise and fall in investor confidence, monetary policy easing/tightening, governments demand for funds, and infl
Public Debt Stock and Debt Servicing: Public debt stock has steadily increased overtime; reaching over N12, 000 billion naira by 2015Q4. With the persistent fall in crude oil price and the attendant d