International Reserves in Nigeria

Nigeria International Reserves | Economic News & Forecasts

Nigeria - International Reserves

Available data suggests economic activity remained relatively weak in the final quarter of 2018, following a modest showing in Q3 which was propped up by higher oil production. The PMI edged down in December and brought the Q4 average below that of Q3’s, signaling waning momentum of business activity towards the end of the year. On the demand side, multi-year high unemployment in Q3 coupled with still-elevated inflationary pressures through year-end likely weighed on private consumption in Q4. This comes against the backdrop of the upcoming presidential election of 16 February which is set to be a two-horse race between incumbent President Muhammadu Buhari and Atiku Abubakar, a businessman and former vice-president. Although both candidates take a similar stance on certain economic issues, they differ sharply over the management of the foreign exchange system and the vital oil industry. Thus, were Abubakar to win, the possibility arises that economic policy is reoriented going forward.

Nigeria - International Reserves Data

2013  2014  2015  2016  2017  
International Reserves (USD)43.6  34.5  29.1  25.8  38.8  

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Nigeria International Reserves Chart

Nigeria International Reserves
Note: International reserves in months of imports.
Source: Central Bank of Nigeria

Nigeria Facts

Bond Yield14.970.0 %Jan 30
Exchange Rate307.23.08 %Jan 30
Stock Market1.20.0 %Jan 28

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