Figures from the Debt Management Office show a remarkably high percentage change in debt servicing for the first quarter, 2018. Specifically, the Federal Government paid N643 billion for domestic debt servicing1, a quarter-over-quarter and year-on-year increases of 50 percent (from N429.8 billion) and (from N424 billion) respectively. Increasing debt burdens and debt servicing seem to be exacerbated by the high cost of domestic debt, necessitated by huge domestic borrowings to fund budgets and reflate the economy
Macroeconomic Report & Economic Updates
August 2, 2018
Nigeria Economic Update (Issue 26)
Figures from the Debt Management Office show a remarkably high percentage change in debt servicing for the first quarter, 2018. Specifically, the Federal Government paid N643 billion for domestic debt servicing1, a quarter-over-quarter and year-on-year increases of 50 percent (from N429.8 billion) and (from N424 billion) respectively. Increasing debt burdens and debt servicing seem to […]
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Nigeria Economic Update (Issue 26)
The All-Share index
(ASI) and Market Capitalization both depreciated (week-on-week) by 1.45 percent
for the second consecutive trading week- June 3, 2016 to June 10, 20166.
ASI depreciated by 401.8 points from 27,634.42 points to 27,232.62 points,
while Market Capitalization declined by N140billion from N9.49 trillion closing
the week at N9.35 trillion. All other indices declined, with the exception of NSE
ASem Index, NSE Insurance Index, and NSE oil/Gas Index. The delay in the
implementation of proposed forex policy continues to adversely affect stock
market performance. However, with growing speculations that the new FOREX
guidelines would be released in the succeeding week, market indices could
perform better subsequently. Hence, monetary authorities should ensure the timely
release and implementation of the new FOREX policy to boost investors
confidence in the near term and ensure price stability in the capital market.