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.
Related
External Reserve
External Reserve: External reserve picked up from its year-2000 level below $10,000 million to above $60,000 million in 2008. However, the external reserve fell deeply in 2010/11 and even further in 2
Transparency Deficits In The Disclosure Of Oil Sector Information In Nigeria
This brief examines the challenges in the discharge of
statutory transparency roles by strategic regulatory institutions in the oil
sector and also identifies policy interventions to improve access to
information on key oil sector processes and transactions.