Nigeria Economic Update Issue 19
In the first article titled: Growth in Crude Oil Production - Statistics are mentioned regarding the domestic oil production output, which increased to 1.82 million barrels per day (mbpd) in the month of April 2019. According to the global oil cartel, OPEC, Nigeria’s crude oil production rose by 5.3%, from 1.7mbpd reported in March 2019. The second article : Deadline in Capital Market Indices - further losses were reported in the capital market in April, compared to the month of March, 2019. The All-share Index (ASI) dropped by -6.06%, relative to the loss of -2.14% recorded in March; market capitalization also declined from ₦11.67 trillion in March to ₦10.96 trillion as at the end of April 2019. The third article: Decline in Electricity Supply: Total power generation declined in the preceding week leading up to May 10, 2019. A peak of 4,164MW was generated as at May 10, from a week-on-week peak power generation of 4391.7MW. The lowest power generated during the week stood at only 8MW on May 9. The next article : Treasury single account turnover - Reports from the OAGF suggest that the Treasury Single Account yielded a total turnover of over ₦30 trillion in the seven years since it was created in 2012 to facilitate a unified structure for all government transactions. Finally in the segment titled Economic Snapshot - Quaterly and Monthly Indicators are listed.