Macroeconomic Report & Economic Updates

August 2, 2018

Nigeria Economic Update (Issue 27)

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Analysis of transactions at the stock market for the month ended May 2018 reveals an increase in the total transaction by a significant 50 percent. From N212.2 billion recorded in April to N318.3 billion in May 20181. Foreign transactions also increased by 57 percent to N193 billion and accounted for 61 percent of total transactions at the bourse. Similarly, domestic investment increased by 40 percent to N125 billion with a 49 percent share of total transactions. With a growing foreign investors’ participation, foreign portfolio investment outperformed domestic investment by 21.3 percent, and for the second consecutive month




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Nigeria Economic Update (Issue 44)

Recently released Nigerias petroleum imports data, show a significant decline in the quantity and value of petroleum import products (PMS, AGO and NHK) between 2015 and 2016. Specifically, value of imports significantly declined year-on-year (January to April) by 30.4 percent to N571 billion in 2016. The huge decline in the import of (refined) petroleum products likely reflects the lower (unrefined) crude oil production/exports. Furthermore, it is likely that the import of petroleum products could decline in subsequent years; however, this is dependent on the prospects of the three domestic refineriesbeing refurbished.