International Reserves in Nigeria
Nigeria - International ReservesOn 16 February, Nigeria’s electoral commission unexpectedly announced the postponement of the general election by one week due to logistical reasons, just hours before polls were scheduled to open. The move has further fueled uncertainty over the outcome of the tight presidential race between incumbent President Muhammadu Buhari and Atiku Abubakar, the main opposition candidate. Although a Buhari victory will likely translate into a continuation of status-quo policy ahead, Abubakar’s business-friendly economic agenda hints at the possibility of a policy shift, particularly in the management of the foreign exchange regime and vital oil industry. The election comes on the heels of recently-released national accounts data which revealed the economy gathered momentum in the final quarter of 2018, with growth hitting an over three-year high on the back of a broad-based expansion within the non-oil sector. The all-important oil and gas sector, however, remained in the doldrums and contracted for the third consecutive quarter in Q4 amid lower oil production and easing global crude prices, weighing on overall activity.
Nigeria - International Reserves Data
|International Reserves (USD)||43.6||34.5||29.1||25.8||38.8|
5 years of economic forecasts for more than 30 economic indicators.
Nigeria International Reserves Chart
Source: Central Bank of Nigeria
|Bond Yield||14.71||0.0 %||Feb 21|
|Exchange Rate||306.3||3.08 %||Feb 21|
|Stock Market||1.1||0.0 %||Feb 21|
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February 15, 2019
Consumer prices rose 0.74% on a month-on-month basis in January, matching December’s rise.
February 13, 2019
Nigeria’s recovery gained traction in the final quarter of 2018, with growth accelerating to an over three-year high.
February 5, 2019
In January, the Stanbic IBTC Bank Nigeria Purchasing Managers’ Index (PMI) came in at 54.0, an 19-month low and below December’s 55.0.
January 22, 2019
On 16 February, Nigerians will head to the polls to elect their next president and representatives in the National Assembly.
January 22, 2019
At its 21–22 January meeting, the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) left the monetary policy rate as well as all other monetary policy parameters unchanged, meeting market expectations.