The National Bureau of Statistics (NBS) publication on Terms of Trade (TOT) shows a deterioration in Q2 2023. Term of Trade measures the relative price of imports to exports. In April, it was 100.8 and reduced to 100.72 in May. It further reduced to 100.67 in June. As a result, TOT reduced by 0.13 percent on average in Q2 2023.
October 11, 2023
Nigeria Economic Update (Issue 38)
Related
Nigeria Economic Update (Issue 6)
Latest figures of FDI flows to Nigeria show
a decline of 27 per cent from $4.7 billion in 2014 to $3.4 billion in 20152,
representing its lowest value since 2005. This decline is largely attributed to
the oil price slump, which has generally increased uncertainty in the economy,
with adverse effects on investors confidence. The fall in FDI flows was
witnessed in most resource based economies in Africa, as FDI flows to the
continent fell by 31 percent in 2015. The forex controls in place in Nigeria
has also exacerbated the uncertainty in economy, and created obstacles for both
domestic and foreign investors. Thus a review of the forex restrictions could
send positive signals to investors.