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.
Money Supply: On a month-on-month basis, growth in M2 have accelerated overtime; reaching over N20,000 billion by April 2016. The rise in M2 at the end of 2016Q1 reflects the fast-paced rise in aggre
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
Tax Collected: Tax revenue which has relatively maintained an upward trend, fell considerably in 2015 and dipped significantly in early 2016 on the account of economic downturn, as many businesses sev
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.