Net Domestic Credit And Currency In Circulation (CIC):
Domestic Credit (Billion )
Steadily rising domestic credit
Currency in Circulation (Billion )
Steadily rising money in circulation
Net Domestic Credit: Rising net credit to government and private sector have driven the upward trend in NDC, especially post-2008. In 2016Q1, NDC grew largely on the account of the rise in banking sector credit to the Federal Government, especially through treasury bills and government bonds.
Currency in Circulation (CIC): CIC has mildly fluctuated overtime due to changes in seasonal factors and regular monetary injections/ejection into/out of the economy which leads to changes in CIC vault-cash and currency-outside-banks components. Particularly, the decline in CIC at the end of 2016Q1 is attributed to the decline in the vault cash component of CIC following monetary ejections.
Related
On average, Nigerias GDP growth rate has averaged about 5 percent; attaining an unusual trough of nearly -10 percent in 2003Q4 and a peak of nearly 20 percent in 2004Q4. However, the Nigerian economy
Gross Domestic Product Growth Rate: Growth in the sector which stalled in the second and third quarters of 2015 witnessed a considerable decline in 2015Q4; the stall in growth in 2015 is attributable
Internally Generated Revenue: Total internally generated revenue particularly declined across the 36 states in Nigeria, in 2015. This is attributable to the weak macroeconomic and financial conditions
Real GDP Growth Rate- Nigeria and selected African Economies: While GDP growth in selected African economies have generally declined at different magnitudes with the slump in commodity prices, other e
