Net Foreign Exchange Flows Through The Nigerian Economy
Net Foreign Exchange Flows (US$ Million)
Declining forex flows, post-2014
Exchange Rate (/$)
Dramatic rise in exchange rate, post-2014
Net Foreign Exchange Flows through the Nigerian Economy: The recent fall in foreign exchange earnings reflects the decline in both oil sector receipts from CBN, and non-oil sector inflows from autonomous sources.
Exchange Rate: The gap between official and parallel market rate (typically, BDC) widened abnormally in 2016Q1. This is attributed to the fall in oil price driving down foreign reserve. Exchange rate worsened in 2016Q2 with the introduction of flexible exchange rate policy in June.
Gross Domestic Product Growth Rate: The information and communication sector has grown overtime but witnessed an unusual decline in 2011, which has remained low in 2016Q1 possibly due to declining con
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
Capital Importation: Foreign investment into the agricultural sector was relatively flat between 2007 and 2012 but gained unusual momentum in September 2015. The spike in 2015 is likely driven by the
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