Macroeconomic Report & Economic Updates
September 16, 2016
Nigeria Economic Update (Issue 39)
Nigerias
external reserve fell marginally by from $25.36 billion to $25.16 billion.
The decline likely reflects the continued sales of dollar by CBN amid fall in
oil revenue. Similarly, the naira/dollar exchange rate depreciated marginally
by 0.5 percent to N424/$ at the parallel segmentas also seen in
preceding weeks. The continued depreciation likely points to banks low level
compliance to CBNs dollar sales directive made in August, 2016,
thus creating artificial dollar scarcity in the parallel market.
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Budget 2013 And The Drive Towards Inclusive Economic Growth
This
brief examines Nigerias Budget 2013, entitled Budget of Fiscal Consolidation
with Inclusive Growth and highlights key sectoral allocations of the budget
and their targets.