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
Gross Federally Collected Revenue: Both oil and non-oil components of gross federal revenue fell below N40 billion in 2016, after recording a peak of N90 billion in 2013. The decline was most prominen
Purchasing Managers Index: The level of business activities declined sharply in the first half of 2016 on the account of weak economic performance. Particularly, the issues surrounding exchange rates
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.