Net Domestic Credit And Currency In Circulation (CIC):
Domestic Credit (Billion )
Steadily rising domestic credit
Currency in Circulation (Billion )
Steadily rising money in circulation
Net Domestic Credit: Rising net credit to government and private sector have driven the upward trend in NDC, especially post-2008. In 2016Q1, NDC grew largely on the account of the rise in banking sector credit to the Federal Government, especially through treasury bills and government bonds.
Currency in Circulation (CIC): CIC has mildly fluctuated overtime due to changes in seasonal factors and regular monetary injections/ejection into/out of the economy which leads to changes in CIC vault-cash and currency-outside-banks components. Particularly, the decline in CIC at the end of 2016Q1 is attributed to the decline in the vault cash component of CIC following monetary ejections.
Internally Generated Revenue: Total internally generated revenue particularly declined across the 36 states in Nigeria, in 2015. This is attributable to the weak macroeconomic and financial conditions
FDI, FPI and other Investments: The unusual fall in overall capital importation, especially in equity investment, in the late 2015 and early 2016 is attributable to the tougher macroeconomic and finan
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.
Gross Domestic Product Growth Rate: The growth performance of the Oil and Gas sector has been unsteady throughout years and declined most significantly in 2015Q4, following a positive growth recorded