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December 17, 2018

Disappointing surplus in Q3

The latest data from the NBS in its report on foreign trade in goods for Q3 2018 show the total value of trade as N9.03trn, representing an increase of 31% on the preceding quarter. Compared with Q2, the total export value rose by 8% q/q to N4.85trn, while the import value increased by 75% q/q to N4.17trn. The net result is a surplus of US$680bn, a decline by -67% when compared to the surplus recorded in the previous quarter. The data was drawn primarily from the Nigerian Customs Service. From the bureau’s commentary, we note that the surge in import value was primarily due to the importation of submersible drilling platforms for oil and gas driven projects. We also note that the import value for raw materials picked up by...

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December 14, 2018

CBN to carry on as before in 2019

In an address given at a dinner in Lagos on 30 November, the CBN governor, Godwin Emefiele, gave some pointers...

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December 13, 2018

Visible dip in capital inflows for Q3

The NBS has recently released the latest report in its Nigerian Capital Importation series, which covers Q3 2018. The data were obtained...

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December 12, 2018

Services again the driver of growth

                                                                                           From the national accounts for Q3 2018 we highlight the five best performing sectors among those accounting for at...

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