The Covid-19 economic lockdown impacted negatively on investor inflow into Nigeria.
Nigeria’s external reserve position is now $9 billion years to date and down from its peak of $45.17 billion achieved.
The problem with inflation getting to high is that it erodes income, reduces value of naira.
Inflation rate rise to 12.4% in May, 0.06% points higher than 12.34% recorded in April.
The Federation Account Allocation Committee (FAAC) disbursed the sum of N780.93bn to the three tiers of government in April 2020 from the revenue generated in March...
Nigeria’s total foreign trade (import and export) rose marginally by 0.8% year on year, when compared to N8.24 trillion recorded in the corresponding quarter of 2019.
Nigeria’s 5 years onshore Non-Deliverable forward contract posted its biggest drop by plunging 27% from N413.36 to close at N569.69.
Nigeria’s Gross Domestic Product (GDP) grew by 2.55% in real terms, in the fourth quarter (Q4) of 2019, up from 2.38%.