Nigeria Economic Update Issue 7
In the first article which handles about the Monetary Policy, it discusses briefly the Central Bank of Nigeria (CBN) and the communiqué No.105 of the Monetary Policy Committee (MPC) meeting and the results and outcomes. The next article discusses Crude Oil and the slight increase that is attributable to an envisaged drop in production, as major oil producing countries signal readiness to cut oil production. In the next article it mentions the drop in the External Reserve and discusses the Exchange rates that remained unchanged at the forex market. The terms of trade is discussed next. The article discusses the recent CBN data showing that Nigeria witnessed a favorable Terms of Trade (TOT) in all the months in Q3 2015. Nigeria’s TOT index averaged 105.03 in Q3 2015, slightly higher than 103.64 and 103.58 for Q2 and Q1 respectively. The next article on the Stock Market talks about the All Share Index increase at the end of the trading session on 29 January 2016.