2011 Statistical Bulletin- Section D_FinalWeb

7/29/2019 2011 Statistical Bulletin- Section D_FinalWeb

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Year Oil Non-Oil Total Oil Non-Oil Total Oil Non-Oil Total Oil Non

1960 27.0 404.8 431.8 8.8 330.6 339.4 35.8 735.4 771.2 (18.1) -

1961 31.7 413.4 445.0 23.1 324.2 347.3 54.8 737.5 792.3 (8.6) -

1962 33.0 373.5 406.4 34.4 302.7 337.1 67.4 676.1 743.5 1.5 -1963 37.3 377.9 415.2 40.4 338.3 378.7 77.6 716.2 793.8 3.1 -

1964 46.4 461.0 507.4 64.1 365.2 429.3 110.5 826.2 936.7 17.7 -

1965 47.9 502.2 550.1 136.2 400.6 536.8 184.1 902.8 1,086.8 88.3 -1

1966 22.0 490.7 512.7 183.9 384.2 568.2 206.0 874.9 1,080.9 161.9 -1

1967 23.2 417.9 441.1 144.8 340.9 485.6 168.0 758.7 926.7 121.5 -

1968 39.6 345.8 385.4 74.0 348.1 422.1 113.6 693.9 807.5 34.4

1969 42.8 454.6 497.4 261.9 374.1 636.0 304.7 828.7 1,133.4 219.2 -

1970 38.7 717.7 756.4 509.6 376.0 885.7 548.3 1,093.8 1,642.1 470.9 -3

1971 50.4 1,028.5 1,078.9 953.0 340.4 1,293.4 1,003.4 1,368.9 2,372.3 902.6 -6

1972 45.2 944.9 990.1 1,176.2 258.0 1,434.2 1,221.4 1,202.9 2,424.3 1,131.0 -6

1973 41.0 1,183.8 1,224.8 1,893.5 384.9 2,278.4 1,934.5 1,568.7 3,503.2 1,852.5 -7

1974 52.4 1,684.9 1,737.3 5,365.7 429.1 5,794.8 5,418.1 2,114.0 7,532.1 5,313.3 -1,2

1975 118.0 3,603.5 3,721.5 4,563.1 362.4 4,925.5 4,681.1 3,965.9 8,647.0 4,445.1 -3,2

1976 95.0 5,053.5 5,148.5 6,321.6 429.5 6,751.1 6,416.6 5,483.0 11,899.6 6,226.6 -4,6

1977 102.2 6,991.5 7,093.7 7,072.8 557.9 7,630.7 7,175.0 7,549.4 14,724.4 6,970.6 -6,4

1978 110.0 8,101.7 8,211.7 5,401.6 662.8 6,064.4 5,511.6 8,764.5 14,276.1 5,291.6 -7,4

1979 230.0 7,242.5 7,472.5 10,166.8 670.0 10,836.8 10,396.8 7,912.5 18,309.3 9,936.8 -6,5

1980 227.4 8,868.2 9,095.6 13,632.3 554.4 14,186.7 13,859.7 9,422.6 23,282.3 13,404.9 -8,3

1981 119.8 12,719.8 12,839.6 10,680.5 342.8 11,023.3 10,800.3 13,062.6 23,862.9 10,560.7 -12,3

1982 225.5 10,545.0 10,770.5 8,003.2 203.2 8,206.4 8,228.7 10,748.2 18,976.9 7,777.7 -10,3

1983 171.6 8,732.1 8,903.7 7,201.2 301.3 7,502.5 7,372.8 9,033.4 16,406.2 7,029.6 -8,4

1984 282.4 6,895.9 7,178.3 8,840.6 247.4 9,088.0 9,123.0 7,143.3 16,266.3 8,558.2 -6,6

1985 51.8 7,010.8 7,062.6 11,223.7 497.1 11,720.8 11,275.5 7,507.9 18,783.4 11,171.9 -6,5

1986 913.9 5,069.7 5,983.6 8,368.5 552.1 8,920.6 9,282.4 5,621.8 14,904.2 7,454.6 -4,5

1987 3,170.1 14,691.6 17,861.7 28,208.6 2,152.0 30,360.6 31,378.7 16,843.6 48,222.3 25,038.5 -12,5

1988 3,803.1 17,642.6 21,445.7 28,435.4 2,757.4 31,192.8 32,238.5 20,400.0 52,638.5 24,632.3 -14,8

1989 4,671.6 26,188.6 30,860.2 55,016.8 2,954.4 57,971.2 59,688.4 29,143.0 88,831.4 50,345.2 -23,2

1990 6,073.1 39,644.8 45,717.9 106,626.5 3,259.6 109,886.1 112,699.6 42,904.4 155,604.0 100,553.4 -36,3

1991 7,772.2 81,716.0 89,488.2 116,858.1 4,677.3 121,535.4 124,630.3 86,393.3 211,023.6 109,085.9 -77,0

1992 19,561.5 123,589.7 143,151.2 201,383.9 4,227.8 205,611.7 220,945.4 127,817.5 348,762.9 181,822.4 -119,3

1993 41,136.1 124,493.3 165,629.4 213,778.8 4,991.3 218,770.1 254,914.9 129,484.6 384,399.5 172,642.7 -119,5

1994 42,349.6 120,439.2 162,788.8 200,710.2 5,349.0 206,059.2 243,059.8 125,788.2 368,848.0 158,360.6 -115,0

1995 155,825.9 599,301.8 755,127.7 927,565.3 23,096.1 950,661.4 1,083,391.2 622,397.9 1,705,789.1 771,739.4 -576,2

1996 162,178.7 400,447.9 562,626.6 1,286,215.9 23,327.5 1,309,543.4 1,448,394.6 423,775.4 1,872,170.0 1,124,037.2 -377,1

1997 166,902.5 678,814.1 845,716.6 1,212,499.4 29,163.3 1,241,662.7 1,379,401.9 707,977.4 2,087,379.3 1,045,596.9 -649,6

1998 175,854.2 661,564.5 837,418.7 717,786.5 34,070.2 751,856.7 893,640.7 695,634.7 1,589,275.4 541,932.3 -627,4

1999 211,661.8 650,853.9 862,515.7 1,169,476.9 19,492.9 1,188,969.8 1,381,138.7 670,346.8 2,051,485.5 957,815.1 -631,3

2000 220,817.7 764,204.7 985,022.4 1,920,900.4 24,822.9 1,945,723.3 2,141,718.1 789,027.6 2,930,745.7 1,700,082.7 -739,3

2001 237,106.8 1,121,073.5 1,358,180.3 1,839,945.3 28,008.6 1,867,953.9 2,077,052.1 1,149,082.1 3,226,134.2 1,602,838.4 -1,093,0

2002 361,710.0 1,150,985.3 1,512,695.3 1,649,445.8 94,731.8 1,744,177.7 2,011,155.8 1,245,717.2 3,256,873.0 1,287,735.8 -1,056,2

2003 398,922.3 1,681,313.0 2,080,235.3 2,993,110.0 94,776.4 3,087,886.4 3,392,032.3 1,776,089.4 5,168,121.7 2,594,187.6 -1,586,5

2004 318 114 7 1 668 930 6 1 987 045 3 4 489 472 2 113 309 4 4 602 781 5 4 807 586 9 1 782 239 9 6 589 826 8 4 171 357 5 -1 555 6

Table D.1.1: Foreign Trade (N' Million)

Imports (cif) Exports & Re-Exports (fob) Total Trade Balance of Trade


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Animal and Machinery

Year Food & Beverages Crude Vegetable Manu- & M

Live Animal & Materials Mineral Oils & Chemicals factured Trans ort MTobacco Inedible Fuels Fats Goods Equipment

1960 47.8 12.3 4.3 22.7 0.1 24.5 162.3 103.3

1961 45.4 12.2 4.9 26.8 0.1 25.2 175.0 101.0

1962 47.0 9.5 4.8 28.1 0.2 24.7 146.1 96.51963 43.8 5.8 6.2 31.0 0.2 28.9 148.4 101.2

1964 41.2 5.8 7.4 39.0 0.3 34.2 179.2 149.9

1965 46.1 4.0 13.2 34.7 0.3 40.3 180.0 184.8

1966 51.6 4.6 14.4 7.6 0.4 41.5 158.6 190.9

1967 42.6 3.7 5.7 17.6 0.6 42.6 144.5 143.2

1968 28.4 2.3 10.5 29.1 0.6 44.9 109.4 121.0

1969 41.8 1.6 11.5 31.3 0.4 60.8 144.7 151.1

1970 57.7 4.0 16.6 22.0 0.8 88.5 227.0 285.3

1971 88.3 4.5 20.4 9.0 0.7 121.5 319.3 417.8

1972 95.8 4.4 20.8 10.3 1.1 102.6 267.7 391.9

1973 126.3 5.2 27.0 13.6 1.4 133.4 323.9 491.41974 154.8 9.1 63.7 55.4 3.6 281.0 493.4 561.8

1975 298.8 48.1 74.4 100.4 8.9 333.2 1,007.4 1,561.0

1976 441.7 63.8 79.3 181.3 24.7 398.5 1,130.1 2,467.2

1977 780.7 132.3 78.4 128.4 46.4 504.0 1,500.0 3,311.0

1978 1,027.6 54.6 97.5 161.2 78.4 642.8 1,855.9 3,573.4

1979 1,254.3 8.4 117.4 126.6 97.5 846.7 1,742.2 2,905.1

1980 1,437.5 12.1 156.7 154.8 115.0 913.5 1,981.5 3,650.4

1981 1,819.6 16.5 218.9 151.1 128.7 1,250.4 2,590.7 5,668.1

1982 1,642.3 16.4 207.2 115.5 151.4 1,031.6 2,287.0 4,569.9

1983 1,761.1 17.8 277.6 72.0 143.4 969.7 2,006.1 3,213.4

1984 1,349.7 16.6 300.1 83.4 163.0 1,050.7 1,354.2 2,568.1

1985 1,199.0 9.4 350.5 61.1 71.0 1,108.2 1,611.8 2,414.4

1986 801.9 14.5 193.9 32.0 124.9 1,039.0 1,237.1 2,277.8

1987 1,873.8 30.7 799.6 76.5 65.7 3,016.5 4,484.9 6,827.7

1988 1,891.6 85.7 591.5 206.8 122.3 4,127.2 4,547.4 8,900.6

1989 2,108.9 136.3 1,080.7 258.8 69.9 7,041.9 6,541.4 12,362.7

1990 3,474.5 228.7 1,417.2 274.2 228.7 9,006.4 10,240.8 18,515.81991 3,045.7 261.1 1,566.4 261.1 261.1 11,779.2 51,951.1 17,926.2

1992 12,840.2 729.6 3,939.6 875.5 1,459.1 20,439.7 35,310.6 62,158.3

1993 13,952.4 498.3 1,328.8 830.5 1,328.8 24,278.0 42,023.4 74,579.1

1994 13,837.0 488.4 5,046.5 1,139.5 1,302.3 46,394.8 40,046.0 46,232.0

1995 88,349.9 3,020.5 31,715.4 9,061.5 8,306.4 199,353.7 175,944.8 206,905.0

1996 75,392.0 2,250.5 26,443.5 8,439.4 7,314.1 132,779.9 156,410.2 129,404.1

1997 100,728.3 5,033.8 38,084.6 10,933.5 11,779.2 192,187.3 246,963.6 202,964.9

1998 102,165.1 3,349.7 37,683.9 11,723.9 10,886.4 192,606.3 248,713.4 195,956.0

1999 103,489.8 4,312.1 38,808.7 12,073.8 12,073.8 196,630.6 253,550.0 204,392.3

2000 113,630.5 6,740.8 44,296.6 12,518.6 14,444.6 228,594.2 289,261.3 234,075.8

2001 160,209.1 9,503.9 62,454.3 17,650.2 20,365.6 294,970.0 406,734.1 327,206.7

2002 144,297.6 13,670.8 75,763.3 21,112.7 21,279.4 298,318.1 473,478.8 378,826.5

Table D.1.2: Value of Major Imports by S.I.T.C. Sections (N' Million)


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Category Credit Debit Net Credit Debit Net Credit Debit Net Credit Debit Net Credit Debit Net Credit Debit Net Credit

(A) CURRENT ACCOUNT 372.0 501.4 (129.4) 390.6 517.2 (126.6) 382.8 491.2 (108.4) 422.2 534.2 (112.0) 465.2 668.2 (203.0) 604.2 787.2 (183.0) 637.4

Merchandise 330.0 418.6 (88.6) 341.8 429.2 (87.4) 330.6 394.8 (64.2) 370.4 402.4 (32.0) 402.4 492.4 (90.0) 530.0 535.0 (5.0) 561.6

Exports (F.O.B.) 330.0 - 330.0 341.8 - 341.8 330.6 - 330.6 370.4 - 370.4 402.4 - 402.4 530.0 - 530.0 561.6

Imports (F.O.B.). - 418.6 (418.6) - 429.2 (429.2) - 394.8 (394.8) - 402.4 (402.4) - 492.4 (492.4) - 535.0 (535.0) -

Services and Income 30.8 68.2 (37.4) 39.0 70.6 (31.6) 40.0 82.8 (42.8) 39.2 113.8 (74.6) 39.6 152.2 (112.6) 44.8 228.2 (183.4) 47.8

Investment Income 11.0 20.0 (9.0) 12.0 19.8 (7.8) 11.2 28.8 (17.6) 8.0 42.0 (34.0) 7.0 62.4 (55.4) 8.2 113.0 (104.8) 8.4

Interest on Reserves - - - - - - - - - - - - - - - - - - -

Others - - - - - - - - - - - - - - - - - - -

Non-factor services - - - - - - - - - - - - - - - - - - -

Other Services 4.0 19.6 (15.6) 4.6 17.6 (13.0) 4.8 17.8 (13.0) 4.0 32.6 (28.6) 4.8 42.0 (37.2) 4.8 64.4 (59.6) 5.0

Unrequited Transfers 11.2 14.6 (3.4) 9.8 17.4 (7.6) 12.2 13.6 (1.4) 12.6 18.0 (5.4) 23.2 23.6 (0.4) 29.4 24.0 5.4 28.0

(B) CAPITAL 170.2 41.0 129.2 181.4 54.0 127.4 148.0 20.4 127.6 228.0 57.8 170.2 231.6 37.8 193.8 216.4 46.6 169.8 210.6

Direct Investment 38.0 - 38.0 50.0 - 50.0 43.4 - 43.4 75.8 - 75.8 126.0 - 126.0 110.4 - 110.4 110.0

Portfolio Investment - - - - - - - - - - - - - - - - - - -

Other Capital Long-term 11.8 - 11.8 7.0 0.2 6.8 5.2 0.8 4.4 12.4 1.4 11.0 12.0 3.6 8.4 32.6 3.4 29.2 30.4

Official(of which) - - - - - - - - - - - - - - - - - - -

Amortisation - - - - - - - - - - - - - - - - - - -

Disbursement - - - - - - - - - - - - - - - - - - -

Other Official - - - - - - - - - - - - - - - - - - -

Private (Net) - - - - - - - - - - - - - - - - - - -

Other Capital Short-term - 0.8 (0.8) - - - 7.0 - 7.0 5.2 - 5.2 1.8 - 1.8 14.4 - 14.4 -

Total (A & B) 542.2 542.4 (0.2) 572.0 571.2 0.8 530.8 511.6 19.2 650.2 592.0 58.2 696.8 706.0 (9.2) 820.6 833.8 (13.2) 848.0

(C) NET ERRORS AND OMISSIONS 9.4 - 9.4 4.0 - 4.0 - 22.2 (22.2) - 59.2 (59.2) - 11.4 (11.4) 9.0 - 9.0 21.8

TOTAL ( A and B and C ) 551.6 542.4 9.2 576.0 571.2 4.8 530.8 533.8 (3.0) 650.2 651.2 (1.0) 696.8 717.4 (20.6) 829.6 833.8 (4.2) 869.8

(D) EXCEPTIONAL FINANCING* (9.2) (4.8) 3.0 1.0 20.6 4.2

(i) Promissory Notes(arrears) - - - - - - - - - - - - - - - - - - -

1960 1 9 61 1 9 62 1963 1 9 64

Table D.2.1: Balance of Payments - Analytical Statement (N' Million)

19 65


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Category Oil Non-Oil Total* Oil Non-Oil Total* Oil Non-Oil

(A) CURRENT ACCOUNT 383.6 ##### (50.0) 600.6 (830.0) (229.4) 612.3 #####

Merchandise 464.8 ##### 173.0 929.8 (644.8) 285.0 ##### #####

Exports (F.O.B.) 517.2 374.2 891.4 980.4 364.0 1,344.4 ##### 250.7

Imports (F.O.B.) (52.4) ##### #### (50.6) ###### ###### (45.2) #####

Services and Income (81.2) ##### #### #### (187.0) (516.2) (528.9) #####

Investment Income(Credit) - (7.0) (7.0) - (9.6) (9.6) - (9.6)

Interest on Reserves - - - - - - - -

Others - - - - - - - -

In vestmen t In come(Debit) - ##### #### #### (119.6) (335.2) (389.8) #####

Interest on Loans - - - - - - - -

Others - - - - - - - -

Non-factor services (Net) (81.2) (75.0) #### 113.6 (77.0) (190.6) (139.1) #####

Other Services - - - - - - - -

Unrequited Transfers (Net) - 45.0 45.0 - 1.8 1.8 - (14.3)

Table D.2.1 Continued : Balance of Pa ments - Anal tical Statement N' Million

1970 1 9 7 1 1 9 7 2


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Category 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003

(A) CURRENT ACCOUNT (52,304.3) (186,084.8) 376,024.0 263,295.7 (331,429.7) 46,336.2 713,023.9 242,901.3 (117,037.3) 704,560.0

Goods 61,335.9 247,177.7 678,557.2 409,408.4 (18,449.4) 395,972.4 1,059,203.2 766,962.6 382,751.9 1,215,674.7

Export (F.O.B) 206,059.2 825,669.6 1,128,246.6 1,091,131.4 689,066.2 1,188,969.8 1,945,723.3 2,001,230.8 1,744,177.7 3,087,886.4

Oil 200,710.2 805,566.8 1,108,187.1 1,065,502.1 657,843.5 1,169,476.9 1,920,900.4 1,973,222.2 1,649,445.8 2,993,110.0

Non-oil 5,349.0 20,102.8 20,059.5 25,629.3 31,222.7 19,493.0 24,822.9 28,008.6 94,731.8 94,776.4

Imports (144,723.3) (578,491.9) (449,689.4) (681,723.0) (707,515.6) (792,997.5) (886,520.2) (1,234,268.2) (1,361,425.8) (1,872,211.7

Oil (42,349.6) (135,370.9) (139,487.2) (146,650.8) (161,267.5) (211,661.7) (198,735.9) (215,474.6) (325,539.0) (359,030.1

Non-oil (102,373.7) (443,121.0) (310,202.2) (535,072.2) (546,248.1) (581,335.7) (687,784.2) (1,018,793.6) (1,035,886.8) (1,513,181.7

Services (net) (58,225.2) (282,275.9) (285,959.0) (281,642.3) (252,101.6) (230,499.1) (149,222.2) (332,175.2) (288,176.8) (288,698.8

Services (credit) (36,030.5) (119,815.8) (188,134.2) (128,010.1) 67,875.8 90,456.3 186,405.8 183,896.5 303,305.9 447,312.3

Services (debit) (22,194.7) (162,460.1) (97,824.8) (153,632.2) (319,977.4) (320,955.4) (335,628.0) (516,071.6) (591,482.7) (736,011.1

Income (net) (66,367.4) (202,535.1) (211,092.2) (225,691.2) (175,945.8) (238,052.5) (362,412.7) (343,891.1) (381,459.4) (422,582.3

Investment income (credit) 1,068.0 7,088.8 8,025.2 18,540.3 25,569.6 22,133.9 37,153.1 40,261.6 19,942.3 10,513.0

Interest on reserves and investmen 1,068.0 7,088.8 8,025.2 18,540.3 25,300.8 21,875.3 35,923.1 40,261.6 19,942.3 10,513.0

Others - - - - 268.8 258.6 1,230.0 - - -

Investment income (debit) (67,435.4) (209,623.9) (219,117.4) (244,231.5) (201,515.4) (260,186.4) (399,565.8) (384,152.7) (401,401.6) (433,095.2

Interest due on loans (36,352.8) (106,270.9) (107,498.3) (130,105.2) (91,924.7) (110,512.5) (217,734.3) (241,838.3) (209,357.7) (195,500.4

Others (31,082.6) (103,353.0) (111,619.1) (114,126.3) (109,590.7) (149,673.9) (181,831.5) (142,314.4) (192,043.9) (237,594.8

Current Transfers (net) 10,952.4 51,548.5 194,518.0 361,220.8 115,067.1 118,915.5 165,455.7 152,005.0 169,847.0 200,166.4

General Government - - (4,875.2) 133,965.4 (4,170.7) (9.2) (7,674.6) 6,244.0 (1,458.9) (10,449.8

Other sectors - - 199,393.2 227,255.4 119,237.8 118,924.7 173,130.3 145,760.9 171,305.9 210,616.2

(B) CAPITAL AND FINANCIAL ACCOUNT 11,252.8 (3,254.0) (423,462.7) (261,207.8) 116,718.8 (366,820.7) (390,356.3) (211,211.3) (437,210.9) (855,899.2

Capital Account (net) 30,698.8 34,627.4 - - 1,313.40 1,218.89 3,324.0 - 6,547.0 2,621.1

Capital Transfers (net) 30,698.8 34,627.4 - - 1,313.4 1,218.9 3,324.0 - 6,547.0 2,621.1

Ac uisation Dis osal of non-financial asset - - - - - - - - - -

Financial Account (net) (19,446.0) (37,881.4) (423,462.7) (261,207.8) 115,405.4 (368,039.5) (393,680.3) (211,211.3) (443,757.9) (858,520.4

Direct Investment 22,229.2 75,940.6 111,290.9 110,452.7 80,749.0 92,792.5 115,952.2 132,433.7 225,224.8 258,388.6

Portfolio Investment (203.5) (5,785.0) (12,055.2) (4,785.8) (637.5) 1,015.7 51,079.1 92,518.9 24,789.2 23,555.5

Other Investment (41,471.7) (108,037.0) (522,698.4) (366,874.7) 35,293.9 (461,847.7) (560,711.6) (436,163.8) (693,771.8) (1,140,464.5

Official (of which) (41,471.7) (108,037.0) (212,258.7) (206,871.1) (125,735.8) (153,229.0) (99,566.2) (94,521.9) (163,890.8) (179,720.7

Amortisation (due) (51,355.7) (188,206.7) (260,668.2) (255,173.5) (185,370.1) (222,853.4) (100,755.5) (95,070.2) (164,795.1) (182,026.0

Disbursement 9,884.0 80,169.7 48,409.5 48,302.4 59,634.3 69,624.4 1,189.3 548.3 904.3 2,305.3

Private (Net) - - (310,439.7) (160,003.6) 161,029.7 (308,618.7) (461,145.4) (341,641.9) (529,881.0) (960,743.8

(C) NET ERROR AND OMISSIONS (1,571.8) (5,877.5) (5,713.3) (1,011.7) (5,960.4) (6,149.8) (8,528.4) (6,960.2) (9,235.7) (10,959.1

Table D.2.1: Balance of Payments - Analytical Statement (N' Million) - Continued


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Category 2005 2006 20071

20081

20091

20101

CURRENT ACCOUNT 4,891,744.45 4,698,047.08 3,478,374.82 3,450,585.67 2,057,949.33 1,993,003.

Goods 3,832,995.79 4,495,928.05 4,749,881.43 5,438,769.73 3,773,346.41 4,546,102.

Credit 7,246,534.80 7,324,680.63 8,309,758.32 10,161,490.11 8,356,385.57 11,490,298

Debit (3,413,539.01) (2,828,752.58) (3,559,876.89) (4,722,720.38) (4,583,039.17) (6,944,195

Exports fob 7,246,534.80 7,324,680.63 8,309,758.32 10,161,490.11 8,356,385.57 11,490,298.

Crude oil & gas 7,140,578.92 7,191,085.64 8,110,500.38 9,913,651.13 8,067,233.00 11,093,921

Crude oil 6,743,640.56 6,538,465.49 7,256,604.27 8,751,759.36 7,321,425.82 10,120,577

Gas 396,938.36 652,620.16 853,896.12 1,161,891.77 745,807.19 973,343

Non-oil 105,955.88 133,594.99 199,257.94 247,838.99 289,152.57 396,377Imports fob (3,413,539.01) (2,828,752.58) (3,559,876.89) (4,722,720.38) (4,583,039.17) (6,944,195.

Crude oil & gas (724,816.82) (646,721.53) (699,086.42) (1,261,924.24) (1,017,748.81) (1,665,976

Non-oil (1,821,416.19) (1,835,800.05) (2,299,830.83) (3,460,796.14) (3,565,290.36) (5,278,219

Trading Partner Adjustment (867,306.00) (346,231.00) (560,959.64) - - -

Services(net) (634,172.21) (1,495,583.65) (2,126,812.51) (2,621,053.04) (2,453,707.60) (2,743,227.

Credit 235,320.62 295,722.93 181,558.24 268,321.83 330,241.49 462,996

Debit (869,492.83) (1,791,306.58) (2,308,370.75) (2,889,374.87) (2,783,949.09) (3,206,223

Transportation(net) (192,166.11) (189,306.74) (522,531.06) (670,879.62) (743,480.57) (980,372

Credit 175,580.84 235,020.43 104,384.20 143,318.68 163,530.08 296,057

Debit (367,746.95) (424,327.17) (626,915.26) (814,198.30) (907,010.65) (1,276,430

Of which: Passenger (23,122.91) (29,864.16) (119,622.38) (99,604.96) (154,139.41) (393,014Credit 11,115.97 3,236.21 15,603.73 46,168.31 28,107.95 25,052

Debit (34,238.88) (33,100.37) (135,226.12) (145,773.26) (182,247.36) (418,067

Of which: Freight (319,583.87) (340,060.78) (434,010.10) (608,180.69) (616,402.29) (618,783

Credit 9,485.17 47,900.48 47,231.64 49,286.00 84,413.69 213,625

Debit (329,069.04) (387,961.26) (481,241.74) (657,466.69) (700,815.98) (832,408

Of which: Other 150,540.67 180,618.20 31,101.42 36,906.02 27,061.13 31,425

Credit 154,979.70 183,883.73 41,548.82 47,864.37 51,008.44 57,379

Debit (4,439.03) (3,265.54) (10,447.40) (10,958.35) (23,947.31) (25,954

Travel (24,302.96) (398,154.42) (676,428.76) (1,091,634.62) (656,697.55) (751,082

Credit 7,152.65 23,696.50 26,840.87 67,438.61 89,604.96 85,529Debit (31,455.61) (421,850.92) (703,269.62) (1,159,073.24) (746,302.51) (836,612

Business travel (11,624.53) (31,039.81) (69,689.69) (109,999.25) (108,239.03) (113,519

Credit - - - - - -

Debit (11,624.53) (31,039.81) (69,689.69) (109,999.25) (108,239.03) (113,519

Personal travel (274.65) (367,114.62) (606,739.07) (981,635.38) (548,458.52) (637,563

Credit - 23,696.50 26,840.87 67,438.61 89,604.96 85,529

Debit (274.65) (390,811.11) (633,579.94) (1,049,073.99) (638,063.47) (723,093

Education related expenditure (11,084.43) (136,829.92) (317,637.71) (560,634.33) (322,918.93) (358,712

Credit - - - - - -

Debit (11,084.43) (136,829.92) (317,637.71) (560,634.33) (322,918.93) (358,712

Health related expenditure - (127,928.43) (134,330.34) (212,566.43) (131,382.51) (149,840Credit - - - - -

Debit (127,928.43) (134,330.34) (212,566.43) (131,382.51) (149,840

Other Personal Travels (1,319.35) (102,356.26) (154,771.02) (208,434.63) (94,157.07) (129,010

Credit 7,152.65 23,696.50 26,840.87 67,438.61 89,604.96 85,529

Debit (8,472.00) (126,052.76) (181,611.88) (275,873.24) (183,762.03) (214,540

Insurance services (466.51) (35,251.47) (25,811.60) (120,137.73) (58,206.09) (75,223

Credit 74.90 86.71 571.40 43.85 112.88 151

Debit (541.41) (35,338.18) (26,383.00) (120,181.58) (58,318.97) (75,374

Communication services (18,221.18) (20,800.51) (23,127.14) (24,259.62) (45,647.14) (35,633

Credit 2,653.96 3,029.64 3,368.52 3,533.47 5,448.99 7,128Debit (20,875.14) (23,830.16) (26,495.66) (27,793.09) (51,096.13) (42,762

Construction services (5,973.97) (6,819.62) (7,582.43) (7,953.72) (6,465.99) (19,381

Credit - - - - - -

Debit (5,973.97) (6,819.62) (7,582.43) (7,953.72) (6,465.99) (19,381

Financial services (1,927.13) (2,403.57) 581.38 (2,002.30) (6,160.30) (2,990

Credit 1,436.97 1,549.25 1,684.26 1,766.73 1,203.20 2,078

Table D.2.1: Balance of Payments (N' Million) - Continued


7/42

Category 2005 2006 20071

20081

20091

20101

Table D.2.1: Balance of Payments (N' Million) - Continued

Current transfers(net) 1,989,132.15 2,289,701.94 2,333,508.54 2,417,815.59 2,882,981.21 3,111,916

Credit 2,006,379.71 2,312,484.18 2,352,392.22 2,480,722.52 2,952,020.30 3,183,757

Debit (17,247.56) (22,782.25) (18,883.67) (62,906.93) (69,039.09) (71,840

General government 7,796.56 125,492.99 97,818.08 205,007.16 219,407.26 215,077

Credit 15,769.20 131,623.68 108,251.76 219,053.88 236,899.99 240,349

Debit (7,972.64) (6,130.69) (10,433.68) (14,046.72) (17,492.73) (25,271

Other sectors 81,716.00 2,164,208.95 2,235,690.47 2,212,808.43 2,663,573.95 2,896,839

Credit 89,107.81 2,180,860.50 2,244,140.46 2,261,668.65 2,715,120.31 2,943,408

Debit (7,391.81) (16,651.56) (8,449.99) (48,860.22) (51,546.36) (46,569Workers' remittances 1,899,619.59 2,149,129.59 2,235,634.32 2,258,678.19 2,710,252.52 2,938,239

Credit 1,901,502.70 2,153,647.28 2,238,935.47 2,261,420.16 2,714,480.64 2,942,551

Debit (1,883.11) (4,517.69) (3,301.15) (2,741.97) (4,228.12) (4,311

Other Transfers - 15,079.36 56.14 (45,869.76) (46,678.57) (41,400

Credit 27,213.23 5,204.99 248.49 639.67 857

Debit (12,133.87) (5,148.85) (46,118.25) (47,318.24) (42,257

CAPITAL AND FINANCIAL ACCOUNT (2,496,880.15) (2,491,546.58) (1,666,525.44) (992,280.30) 1,862,597.81 305,561

Capital account(net) 962,972.48 1,357,983.63 - - - -

Credit 962,972.48 1,357,983.63 - - -

Debit - - - - -

Capital transfers 962,972.48 1,357,983.63 - - -

Credit 962,972.48 1,357,983.63 - - -

General Government 962,972.48 1,357,983.63 - - -

Debt Forgiveness 962,972.48 1,357,983.63 - - -

Other Sector - - - - -

Debit - - - - -

Acquisition/disposal of nonproduced, nonfin assets - - - - -

Credit - - - - -

Debit - - - - -

Financial account(net) (3,459,852.63) (3,849,530.21) (1,666,525.44) (992,280.30) 1,862,597.81 305,561

Assets (1,843,867.07) (2,820,760.40) (3,132,760.90) (2,157,312.27) 248,206.12 (834,766Direct investment (Abroad) (1,921.21) (41,119.49) (109,161.26) (124,645.02) (227,093.29) (137,029

Equity capital (1,921.21) (40,371.00) (108,291.68) (123,718.53) (225,387.90) (135,124

Claims on direct investment enterprises (1,921.21) (40,371.00) (108,291.68) (123,718.53) (225,387.90) (135,124

Liabilities to direct investors - - - - -

Reinvested earnings - (748.48) (869.58) (926.49) (1,705.39) (1,904

Other capital - - - -

Claims on direct investment enterprises - - - - -


Portfolio investment (180,090.32) (194,585.82) (231,942.44) (560,498.52) (122,347.50) (167,847

Equity securities (162,803.33) (175,524.32) (214,673.16) (478,984.34) (112,152.00) (153,860

Debt securities (17,286.99) (19,061.50) (17,269.28) (81,514.19) (10,195.50) (13,987

Long-term - - - - -

Short-term (17,286.99) (19,061.50) (17,269.28) (81,514.19) (10,195.50) (13,987

Other investment (173,763.44) (797,497.24) (1,664,444.37) (1,275,800.90) (966,046.81) (2,021,367

Trade credits (180,616.47) (598,891.18) (901,140.23) (336,314.40) (990,636.50) (1,096,490

Loans -DMBs (14,583.88) (16,080.31) (14,568.23) (34,383.30) (56,346.97) (33,781

Currency and deposits 21,436.91 (182,525.75) (748,735.91) (905,103.20) 80,936.66 (891,095

Monetary authorities - - - - -

General government - 15,275.72 (158,924.28) (245,517.20) (339,404.33) (107,531

Banks 8,821.55 (180,970.13) (363,675.40) (409,596.60) 427,960.74 (21,266

Other sectors 12,615.36 (16,831.35) (226,136.23) (249,989.40) (7,619.75) (762,297Other Assets - - - - -

Reserve assets* (1,488,092.10) (1,787,557.84) (1,127,212.84) (196,367.83) 1,563,693.71 1,491,478

Monetary Gold - - - - -

SDRs - - - - (355,029.68)

Reserve Positions in the Fund - - - - -

Foreign exchange (1 488 092 10) (1 787 557 84) (1 127 212 84) (196 367 83) 1 918 723 39 1 491 478


8/42

Category 2005 2006 20071

20081

20091

20101

CURRENT ACCOUNT 37,225.05 36,844.48 27,880.53 29,296.30 13,973.99 13,420.

Goods 29,168.22 35,259.36 38,072.15 46,176.46 25,621.96 30,612.

Credit 55,144.47 57,443.88 66,605.95 86,273.49 56,741.94 77,372

Debit (25,976.25) (22,184.52) (28,533.80) (40,097.03) (31,119.98) (46,760

Exports fob 55,144.47 57,443.88 66,605.95 86,273.49 56,741.94 77,372.

Crude oil & gas 54,338.17 56,396.16 65,008.82 84,169.28 54,778.52 74,703

Crude oil 51,317.56 51,277.98 58,164.51 74,304.54 49,714.31 68,149

Gas 3,020.61 5,118.18 6,844.31 9,864.74 5,064.22 6,554

Non-oil 806.30 1,047.72 1,597.13 2,104.21 1,963.42 2,669Imports fob (25,976.25) (22,184.52) (28,533.80) (40,097.03) (31,119.98) (46,760.

Crude oil & gas (5,515.69) (5,071.92) (5,603.45) (10,714.04) (6,910.77) (11,218

Non-oil (13,860.56) (14,397.28) (18,434.04) (29,382.99) (24,209.21) (35,542

Trading Partner Adjustment (6,600.00) (2,715.32) (4,496.31) - - -

Services(net) (4,825.91) (11,729.13) (17,047.23) (22,253.37) (16,661.29) (18,472.

Credit 1,790.74 2,319.21 1,455.26 2,278.12 2,242.42 3,117

Debit (6,616.64) (14,048.34) (18,502.49) (24,531.49) (18,903.71) (21,589

Transportation(net) (1,462.34) (1,484.64) (4,188.29) (5,695.93) (5,048.42) (6,601

Credit 1,336.13 1,843.15 836.68 1,216.81 1,110.41 1,993

Debit (2,798.47) (3,327.79) (5,024.97) (6,912.74) (6,158.83) (8,595

Of which: Passenger (175.96) (234.21) (958.82) (845.67) (1,046.65) (2,646Credit 84.59 25.38 125.07 391.98 190.86 168

Debit (260.55) (259.59) (1,083.89) (1,237.65) (1,237.51) (2,815

Of which: Freight (2,431.96) (2,666.93) (3,478.76) (5,163.60) (4,185.53) (4,166

Credit 72.18 375.66 378.58 418.45 573.19 1,438

Debit (2,504.14) (3,042.59) (3,857.34) (5,582.05) (4,758.72) (5,605

Of which: Other 1,145.58 1,416.50 249.29 313.34 183.75 211

Credit 1,179.36 1,442.11 333.03 406.38 346.36 386

Debit (33.78) (25.61) (83.74) (93.04) (162.61) (174

Travel (184.94) (3,122.53) (5,421.84) (9,268.24) (4,459.14) (5,057

Credit 54.43 185.84 215.14 572.57 608.44 575Debit (239.37) (3,308.37) (5,636.98) (9,840.81) (5,067.58) (5,633

Business travel (88.46) (243.43) (558.59) (933.92) (734.97) (764

Credit - - - - - -

Debit (88.46) (243.43) (558.59) (933.92) (734.97) (764

Personal travel (2.09) (2,879.10) (4,863.25) (8,334.32) (3,724.17) (4,293

Credit - 185.84 215.14 572.57 608.44 575

Debit (2.09) (3,064.94) (5,078.39) (8,906.89) (4,332.61) (4,869

Education related expenditure (84.35) (1,073.09) (2,545.99) (4,759.92) (2,192.70) (2,415

Credit - - - - - -

Debit (84.35) (1,073.09) (2,545.99) (4,759.92) (2,192.70) (2,415

Health related expenditure - (1,003.28) (1,076.71) (1,804.74) (892.12) (1,008Credit - - - - - -

Debit - (1,003.28) (1,076.71) (1,804.74) (892.12) (1,008

Other Personal Travels (10.04) (802.73) (1,240.55) (1,769.66) (639.35) (868

Credit 54.43 185.84 215.14 572.57 608.44 575

Debit (64.47) (988.57) (1,455.69) (2,342.23) (1,247.79) (1,444

Insurance services (3.55) (276.46) (206.89) (1,020.00) (395.23) (506

Credit 0.57 0.68 4.58 0.37 0.77 1

Debit (4.12) (277.14) (211.47) (1,020.37) (396.00) (507

Communication services (138.66) (163.13) (185.37) (205.97) (309.96) (239

Credit 20.20 23.76 27.00 30.00 37.00 48

Debit (158.86) (186.89) (212.37) (235.97) (346.96) (287

Construction services (45.46) (53.48) (60.78) (67.53) (43.91) (130

Credit - - - - - -

Debit (45.46) (53.48) (60.78) (67.53) (43.91) (130

Financial services (14.67) (18.85) 4.66 (17.00) (41.83) (20

Credit 10.94 12.15 13.50 15.00 8.17 13

Table D.2.1: Balance of Payments (US$' Million) - Continued


9/42

Category 2005 2006 20071

20081

20091

20101

Table D.2.1: Balance of Payments (US$' Million) - Continued

Current transfers(net) 15,136.84 17,957.01 18,703.98 20,527.83 19,576.16 20,954

Credit 15,268.09 18,135.68 18,855.34 21,061.93 20,044.95 21,438

Debit (131.25) (178.67) (151.36) (534.09) (468.79) (483

General government 59.33 984.18 784.05 1,740.56 1,489.83 1,448

Credit 120.00 1,032.26 867.68 1,859.82 1,608.61 1,618

Debit (60.67) (48.08) (83.63) (119.26) (118.78) (170

Other sectors 621.84 16,972.83 17,919.93 18,787.27 18,086.33 19,506

Credit 678.09 17,103.42 17,987.66 19,202.11 18,436.34 19,820

Debit (56.25) (130.59) (67.73) (414.83) (350.01) (313Workers' remittances 14,455.67 16,854.57 17,919.48 19,176.72 18,403.29 19,785

Credit 14,470.00 16,890.00 17,945.94 19,200.00 18,432.00 19,814

Debit (14.33) (35.43) (26.46) (23.28) (28.71) (29

Other Transfers - 118.26 0.45 (389.45) (316.96) (278

Credit - 213.42 41.72 2.11 4.34 5

Debit - (95.16) (41.27) (391.55) (321.30) (284

CAPITAL AND FINANCIAL ACCOUNT (19,000.69) (19,539.98) (13,357.85) (8,424.70) 12,647.50 2,057

Capital account(net) 7,328.00 10,650.00 - - - -

Credit 7,328.00 10,650.00 - - -

Debit - - - - -

Capital transfers 7,328.00 10,650.00 - - -

Credit 7,328.00 10,650.00 - - -

General Government 7,328.00 10,650.00 - - -

Debt Forgiveness 7,328.00 10,650.00 - - -


Debit - - - - -

Acquisition/disposal of nonproduced, nonfin assets - - - - -

Credit - - - - -

Debit - - - - -

Financial account(net) (26,328.69) (30,189.98) (13,357.85) (8,424.70) 12,647.50 2,057

Assets (14,031.41) (22,121.84) (25,110.30) (18,316.10) 1,685.38 (5,621Direct investment (Abroad) (14.62) (322.48) (874.97) (1,058.27) (1,542.02) (922

Equity capital (14.62) (316.61) (868.00) (1,050.40) (1,530.44) (909

Claims on direct investment enterprises (14.62) (316.61) (868.00) (1,050.40) (1,530.44) (909


Reinvested earnings - (5.87) (6.97) (7.87) (11.58) (12

Other capital - - - - -

Claims on direct investment enterprises - - - - -


Portfolio investment (1,370.45) (1,526.04) (1,859.11) (4,758.77) (830.77) (1,130

Equity securities (1,238.90) (1,376.55) (1,720.69) (4,066.69) (761.54) (1,036

Debt securities (131.55) (149.49) (138.42) (692.08) (69.23) (94Long-term - - - - -

Short-term (131.55) (149.49) (138.42) (692.08) (69.23) (94

Other investment (1,322.30) (6,254.38) (13,341.17) (10,831.86) (6,559.70) (13,611

Trade credits (1,374.45) (4,696.81) (7,222.99) (2,855.39) (6,726.67) (7,383

Loans -DMBs (110.98) (126.11) (116.77) (291.92) (382.61) (227

Currency and deposits 163.13 (1,431.46) (6,001.41) (7,684.54) 549.58 (6,000

Monetary authorities - - - - -

General government - 119.80 (1,273.84) (2,084.50) (2,304.64) (724

Banks 67.13 (1,419.26) (2,915.00) (3,477.57) 2,905.96 (143

Other sectors 96.00 (132.00) (1,812.57) (2,122.47) (51.74) (5,133Other Assets - - - - -

Reserve assets* (11,324.04) (14,018.94) (9,035.05) (1,667.21) 10,617.87 10,043

Monetary Gold - - - - -

SDRs - - - - (2,410.74)

Reserve Positions in the Fund - - - - -

Foreign exchange (11 324 04) (14 018 94) (9 035 05) (1 667 21) 13 028 61 10 043


10/42

Type of Asset/Liability 2005 20061

20071

20081

20091

20101

20112

Net international investment position of Nigeria (2,859,237.86) 709,216.02 1,322,317.15 1,702,271.29 252,306.47 (1,564,742.47) (748,615.73)

ASSETS 5,396,331.32 7,759,720.23 9,142,501.26 11,726,739.75 12,914,615.43 12,605,496.36 16,094,620.03

Direct investment abroad 39,347.58 80,102.05 177,712.37 339,975.31 616,013.82 759,503.35 895,161.59

Equity Capital and Reinvested Earnings 39,347.58 80,102.05 177,712.37 339,975.31 616,013.82 759,503.35 895,161.59

Other Capital - - - - - - -

Portfolio investment abroad 367,831.34 557,873.68 732,395.98 1,453,797.98 1,764,724.50 1,919,368.32 2,227,498.94

Equity Securities 331,798.79 503,224.70 665,805.87 1,287,230.18 1,566,414.85 1,733,817.50 2,053,693.71

Monetary Authority - - - - - - -

General Government - - - - - - -

Banks 331,798.79 503,224.70 665,805.87 1,287,230.18 1,566,414.85 1,733,817.50 2,053,693.71Other Sector - - - - - - -

Debt Securities 36,032.55 54,648.98 66,590.11 166,567.80 198,309.65 185,550.82 173,805.23

Bonds and Notes - - - - - - -



Banks - - - - - - -

Other Sector - - - - - - -

Money Market 36,032.55 54,648.98 66,590.11 166,567.80 198,309.65 185,550.82 173,805.23Monetary Authority - - - - - - -


Banks 36,032.55 54,648.98 66,590.11 166,567.80 198,309.65 185,550.82 173,805.23


Financial Derivatives - - - - - - -



Banks - - - - - - -


Other Assets 1,331,030.03 1,696,165.93 2,176,621.20 2,907,238.74 3,833,705.77 5,054,393.29 7,806,061.98

Trade Credit 423,036.00 602,459.82 852,096.13 378,510.50 1,006,175.10 1,053,681.39 853,217.74



Banks - - - - - - -

Other Sector 423,036.00 602,459.82 852,096.13 378,510.50 1,006,175.10 1,053,681.39 853,217.74

Loans 120,493.49 134,801.51 137,752.39 193,485.90 275,559.27 311,820.13 366,022.20


Long-term - - - - - - -

Short-term - - - - - - -


Long-term - - - - - - -

Short-term - - - - - - -

Banks 120,493.49 134,801.51 137,752.39 193,485.90 275,559.27 311,820.13 366,022.20

Long-term - - - - - - -

Short-term 120,493.49 134,801.51 137,752.39 193,485.90 275,559.27 311,820.13 366,022.20Other Sector - - - - - - -

Long-term - - - - - - -

Short-term - - - - - - -

Currency and Deposits 787,500.54 958,904.61 1,186,772.68 2,335,242.34 2,551,971.40 3,688,891.77 6,586,822.04

Table D.2.2.1: International Investment Position (N' Million)


11/42




Banks - - - - - - -


Other Liabilities 3,926,996.62 1,798,360.79 1,957,283.92 2,166,156.56 2,401,631.03 2,351,947.78 2,726,378.58

Trade Credit - - - - - - -



Banks - - - - - - -


Loans 3,209,229.01 1,078,223.51 1,194,698.71 1,345,537.25 1,537,484.93 1,515,504.13 1,622,736.11

Monetary Authority - - - - - - -Long-term - - - - - - -

Short-term - - - - - - -

General Government 2,667,844.10 519,006.07 416,811.60 464,914.43 554,511.01 667,310.81 922,185.48

Long-term 2,667,844.10 519,006.07 416,811.60 464,914.43 554,511.01 667,310.81 922,185.48

Short-term - - - - - - -

Banks 128,365.62 139,103.68 291,233.72 297,503.80 386,821.63 375,575.91 469,313.41

Long-term 128,365.62 139,103.68 291,233.72 297,503.80 386,821.63 375,575.91 469,313.41

Short-term - - - - - - -Other Sector 413,019.30 420,113.75 486,653.38 583,119.02 596,152.29 472,617.41 231,237.22

Long-term 413,019.30 420,113.75 486,653.38 583,119.02 596,152.29 472,617.41 231,237.22

Short-term - - - - - - -

Currency and Deposits 717,767.61 720,137.28 762,585.21 820,619.31 864,146.10 836,443.65 1,103,642.48



Banks 717,767.61 720,137.28 762,585.21 820,619.31 864,146.10 836,443.65 1,103,642.48


Source: Central Bank of Nigeria

Notes: 1Revised 2Provisional


12/42

Type of Asset/Liability 2005 20061

20071

20081

20091

20101

20112

Net international investment position of Nigeria -21,945.18 5,529.09 11,208.93 12,841.52 -723.97 -10,385.92 -4,729.99

ASSETS 41,417.85 60,495.21 77,498.53 88,463.64 83,928.45 83,668.50 101,690.91

Direct investment abroad 302.00 624.48 1,506.42 2,564.69 4,118.29 5,041.17 5,655.91

Equity Capital and Reinvested Earnings 302.00 624.48 1,506.42 2,564.69 4,118.29 5,041.17 5,655.91

Other Capital - - - - - - -

Portfolio investment abroad 2,823.17 4,349.21 6,208.32 10,967.09 11,797.86 12,739.73 14,074.04

Equity Securities 2,546.62 3,923.17 5,643.86 9,710.55 10,472.09 11,508.15 12,975.89



Banks 2,546.62 3,923.17 5,643.86 9,710.55 10,472.09 11,508.15 12,975.89


Debt Securities 276.56 426.05 564.47 1,256.55 1,325.78 1,231.59 1,098.16

Bonds and Notes - - - - - - -



Banks - - - - - - -


Money Market 276.56 426.05 564.47 1,256.55 1,325.78 1,231.59 1,098.16



Banks 276.56 426.05 564.47 1,256.55 1,325.78 1,231.59 1,098.16





Banks - - - - - - -


Other Assets 10,215.90 13,223.40 18,450.63 21,931.49 25,629.80 33,548.34 49,321.17

Trade Credit 3,246.88 4,696.81 7,222.99 2,855.39 6,726.67 6,993.77 5,390.90



Banks - - - - - - -

Other Sector 3,246.88 4,696.81 7,222.99 2,855.39 6,726.67 6,993.77 5,390.90

Loans 924.81 1,050.92 1,167.69 1,459.61 1,842.22 2,069.69 2,312.64Monetary Authority - - - - - - -

Long-term

Short-term


Long-term

Short-term

Banks 924.81 1,050.92 1,167.69 1,459.61 1,842.22 2,069.69 2,312.64

Long-term

Short-term 924.81 1,050.92 1,167.69 1,459.61 1,842.22 2,069.69 2,312.64


Long-term

Short-term

C d D i 6 044 21 7 475 67 10 059 95 17 616 49 17 060 91 24 484 88 41 617 63

Table D.2.2.2: International Investment Position (US$' Million)


13/42

LIABILITIES 63,363.03 54,966.12 66,289.60 75,622.12 84,652.42 94,054.42 106,420.90

Direct investment in Reporting Economy 26,345.00 31,242.81 37,329.54 45,578.18 54,227.71 60,326.67 66,624.33

Equity Capital and Reinvested Earnings 25,027.75 29,925.56 35,974.26 44,159.29 52,788.11 58,826.47 64,829.66

Other Capital 1,317.25 1,317.25 1,355.28 1,418.89 1,439.60 1,500.20 1,794.67Portfolio investment in Reporting Economy 6,877.60 9,703.19 12,368.69 13,702.99 14,368.88 18,116.78 22,570.44

Equity Securities 3,550.00 5,335.00 6,794.49 5,834.69 6,327.36 8,506.64 11,173.53



Banks - - - - - - -

Other Sector 3,550.00 5,335.00 6,794.49 5,834.69 6,327.36 8,506.64 11,173.53

Debt Securities 3,327.60 4,368.19 5,574.20 7,868.30 8,041.52 9,610.14 11,396.91

Bonds and Notes 3,063.00 4,074.70 5,132.79 6,489.98 6,582.08 7,266.99 8,275.52


General Government 3,063.00 4,074.70 5,132.79 6,489.98 6,582.08 7,266.99 8,275.52

Banks - - - - - - -


Money Market 264.60 293.49 441.41 1,378.32 1,459.44 2,343.15 3,121.39



Banks 264.60 293.49 441.41 1,378.32 1,459.44 2,343.15 3,121.39





Banks - - - - - - -


Other Liabilities 30,140.43 14,020.12 16,591.37 16,340.95 16,055.83 15,610.96 17,226.12

Trade Credit - - - - - - -



Banks - - - - - - -

Other Sector

Loans 24,631.43 8,405.89 10,127.14 10,150.40 10,278.68 10,059.10 10,252.96


Long-term

Short-term

General Government 20,476.20 4,046.20 3,533.20 3,507.20 3,707.12 4,429.25 5,826.66Long-term 20,476.20 4,046.20 3,533.20 3,507.20 3,707.12 4,429.25 5,826.66

Short-term - - - - - - -

Banks 985.23 1,084.46 2,468.71 2,244.30 2,586.05 2,492.87 2,965.27

Long-term 985.23 1,084.46 2,468.71 2,244.30 2,586.05 2,492.87 2,965.27

Short-term - - - - - - -

Other Sector 3,170.00 3,275.23 4,125.23 4,398.91 3,985.51 3,136.98 1,461.03

Long-term 3,170.00 3,275.23 4,125.23 4,398.91 3,985.51 3,136.98 1,461.03

Short-term - - - - - - -Currency and Deposits 5,509.00 5,614.23 6,464.23 6,190.55 5,777.15 5,551.86 6,973.16



Banks 5,509.00 5,614.23 6,464.23 6,190.55 5,777.15 5,551.86 6,973.16


14/42

Table D.2.3: External Reserves (US$' Million)

Year January February March April May June July August September October November December

1960 150.23 168.91 147.12 149.45 143.93 143.85 157.20 152.03 176.60 173.58 159.03 217.32

1961 146.59 164.82 143.55 145.83 140.44 140.36 153.39 148.35 172.32 169.37 155.17 212.05

1962 148.29 166.73 145.22 147.52 142.07 141.99 155.16 150.07 174.32 171.33 156.97 214.51

1963 124.51 139.99 121.93 123.87 119.29 119.22 130.29 126.01 146.37 143.86 131.80 180.12

1964 149.65 168.25 146.55 148.87 143.37 143.29 156.59 151.44 175.91 172.90 158.41 216.48

1965 159.52 179.36 156.22 158.70 152.83 152.74 166.92 161.44 187.52 184.31 168.87 230.77

1966 137.61 154.73 134.77 136.90 131.84 131.77 144.00 139.27 161.77 159.00 145.68 199.07

1967 69.45 78.09 68.01 69.09 66.54 66.50 72.67 70.28 81.64 80.24 73.52 100.461968 66.02 74.23 64.66 65.68 63.25 63.22 69.09 66.82 77.61 76.28 69.89 95.51

1969 85.11 95.70 83.35 84.67 81.54 81.49 89.06 86.13 100.05 98.34 90.10 123.12

1970 108.24 121.70 106.00 107.68 103.70 103.64 113.26 109.54 127.24 125.06 114.58 156.58

1971 161.94 180.40 202.62 171.64 202.22 242.16 199.00 109.96 208.16 251.82 198.40 281.38

1972 216.70 166.60 233.80 234.00 228.60 209.08 202.54 202.76 241.10 223.72 201.00 243.58

1973 219.65 222.01 280.98 309.72 339.79 330.10 356.30 301.37 282.93 280.77 246.14 377.98

1974 447.00 587.20 802.30 1,029.50 1,386.50 1,484.80 1,884.70 2,133.10 2,472.20 2,823.60 2,969.20 3,452.30

1975 3,674.40 3,690.30 3,757.20 4,115.70 3,985.10 3,789.50 3,774.30 3,593.80 3,549.40 3,702.00 3,615.00 3,583.70

1976 3,569.10 3,441.30 3,475.30 3,881.00 3,823.40 3,773.40 3,751.20 3,734.70 3,703.70 3,704.40 3,344.60 3,286.30

1977 3,076.90 3,220.40 3,224.70 3,241.20 3,159.90 3,124.30 2,965.20 3,064.60 3,051.10 2,993.70 3,009.70 2,814.50

1978 2,073.20 2,676.10 2,470.20 2,179.70 1,926.10 1,840.90 1,485.80 1,523.50 1,315.50 1,385.50 1,367.50 1,298.90

1979 1,200.90 1,233.40 1,351.10 1,231.20 1,522.20 1,748.70 1,910.00 2,388.60 2,628.40 2,858.70 2,946.60 3,059.80

1980 3,072.40 3,412.70 3,667.10 3,970.10 4,288.00 4,496.40 4,937.60 5,206.60 5,524.00 5,395.00 5,374.10 5,462.00

1981 5,177.90 5,163.60 5,572.10 5,283.30 6,123.10 5,515.10 5,268.20 5,105.20 4,224.80 3,467.80 2,852.10 2,441.60

1982 1,679.90 1,726.60 977.40 773.80 756.70 858.30 857.30 804.50 871.50 1,072.80 902.20 1,043.30

1983 1,193.60 647.00 562.20 593.50 580.60 641.90 699.80 582.70 557.20 513.90 374.60 224.401984 224.40 210.80 333.10 478.40 443.00 582.50 532.90 315.90 479.90 705.60 463.10 710.10

1985 567.10 779.40 804.30 1,191.90 1,148.60 1,031.60 804.70 758.00 784.00 1,017.70 1,236.50 1,657.90

1986 1,308.90 1,320.30 1,030.80 893.10 859.70 986.20 828.80 948.10 2,120.05 3,292.00 2,497.50 2,836.60

1987 2,287.02 2,558.10 9,449.51 2,651.80 4,241.67 5,831.55 3,976.60 4,889.00 7,237.74 7,255.09 4,671.60 7,504.59

1988 7,925.66 8,240.60 8,555.53 6,438.41 5,458.61 4,478.81 5,458.61 5,132.01 5,024.17 5,204.93 5,120.37 5,229.10

1989 4,310.46 4,769.78 4,540.12 9,236.52 5,157.92 1,079.31 1,053.73 2,430.32 2,309.66 3,033.53 2,984.25 3,047.62

1990 3,386.77 3,960.74 3,770.03 3,696.20 3,170.34 2,644.47 2,839.61 2,884.81 2,762.12 2,828.85 3,807.81 4,541.45


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1991 4,003.75 4,682.28 4,428.32 4,222.38 4,085.36 3,902.19 3,833.02 3,681.72 3,869.67 4,023.91 3,738.14 4,149.30

1992 4,109.65 5,517.36 4,109.65 1,885.98 2,789.49 2,834.30 2,727.33 2,764.40 2,095.33 1,762.82 1,241.03 1,554.61

1993 8,365.69 1,016.36 9,505.26 1,351.74 1,206.16 1,351.39 1,161.48 8,647.24 7,651.78 8,830.28 8,307.18 1,429.591994 7,596.17 8,388.87 9,181.57 8,466.90 9,207.54 9,948.17 9,803.26 9,658.35 1,497.92 4,689.69 7,881.47 9,009.11

1995 1,295.18 1,217.14 8,028.99 5,481.87 7,478.68 1,429.44 1,165.48 1,156.85 1,161.17 1,159.01 1,160.09 1,611.11

1996 1,002.95 1,437.33 1,849.15 1,848.10 1,825.34 2,072.76 1,811.06 2,218.05 2,310.06 2,808.98 3,307.90 3,403.91

1997 4,480.52 5,352.18 6,180.59 5,664.65 5,372.50 6,141.33 6,038.96 6,645.60 6,773.48 6,750.37 6,869.71 7,222.22

1998 7,464.73 8,402.39 8,319.60 8,318.31 7,836.21 7,947.26 7,305.16 7,298.06 8,192.32 7,933.69 7,651.50 7,107.50

1999 6,549.60 6,274.90 5,507.10 5,115.10 4,988.90 4,772.30 4,708.20 4,971.00 5,032.10 5,343.50 5,021.90 5,424.60

2000 5,789.20 6,494.80 6,682.80 6,692.60 6,786.80 7,272.40 7,634.90 7,958.60 8,118.10 8,788.50 9,484.40 9,386.10

2001 9,705.00 10,016.25 10,787.50 10,176.30 10,353.70 10,166.70 10,389.90 10,204.00 10,563.90 10,581.68 10,117.80 10,267.10

2002 9,668.78 9,768.47 9,546.10 9,403.40 9,226.30 8,674.70 8,143.03 8,089.20 7,424.00 7,741.90 7,737.10 7,681.10

2003 7,134.42 7,655.06 8,226.16 8,216.82 8,269.57 7,673.09 7,643.95 7,448.96 7,170.46 7,305.84 7,489.55 7,467.78

2004 8,324.00 9,352.40 9,684.49 9,975.91 10,083.87 11,441.36 12,228.31 12,482.40 13,222.90 14,657.00 16,345.40 16,955.02

2005 19,592.64 20,554.09 21,807.98 22,210.20 23,290.50 24,367.12 25,161.60 26,951.24 28,638.24 23,921.01 27,075.63 28,279.06

2006 31,317.94 34,319.11 36,201.54 33,063.87 34,094.35 36,479.00 38,074.22 39,247.82 40,457.86 41,477.69 42,441.55 42,298.11

2007 43,510.78 42,550.61 42,633.86 43,530.55 43,168.67 42,626.20 43,263.88 45,010.40 47,930.22 49,209.74 49,963.62 51,333.15

2008 54,215.79 56,908.42 59,756.51 60,815.85 59,180.14 59,157.15 60,342.13 60,201.74 62,081.86 58,534.15 57,480.50 53,000.36

2009 50,108.65 48,113.06 47,081.96 45,914.47 44,836.40 43,462.74 43,351.39 41,754.31 43,343.33 43,054.77 43,024.68 42,382.49

2010 42,075.67 41,410.10 40,667.03 40,322.01 38,815.79 37,468.44 37,155.19 36,769.65 34,589.01 33,597.02 33,059.30 32,339.25

2011 33,131.83 33,246.07 33,221.80 32,835.33 32,100.81 31,890.91 32,521.71 32,914.97 31,740.23 32,594.69 32,125.22 32,639.78



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Year January February March April May June July August September October November December Average

1960 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143

1961 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143

1962 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143

1963 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143

1964 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143

1965 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143

1966 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143

1967 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143

1968 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143

1969 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143

1970 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143

1971 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.7143 0.6579 0.6579 0.6579 0.6579 0.6955

1972 0.6579 0.6579 0.6579 0.6579 0.6579 0.6579 0.6579 0.6579 0.6579 0.6579 0.6579 0.6579 0.6579

1973 0.6579 0.6579 0.6579 0.6579 0.6579 0.6579 0.6579 0.6579 0.6579 0.6579 0.6579 0.6579 0.6579

1974 0.6579 0.6579 0.6579 0.6579 0.6162 0.6162 0.6162 0.6162 0.6135 0.6162 0.6162 0.6162 0.6299

1975 0.6158 0.6146 0.6138 0.6124 0.6124 0.6077 0.6077 0.6113 0.6178 0.6253 0.6257 0.6257 0.6159

1976 0.6244 0.6236 0.6246 0.6250 0.6250 0.6262 0.6266 0.6265 0.6265 0.6280 0.6310 0.6310 0.6265

1977 0.6310 0.6310 0.6370 0.6500 0.6513 0.6513 0.6513 0.6513 0.6513 0.6513 0.6513 0.6513 0.6466

1978 0.6374 0.6475 0.6203 0.6119 0.6116 0.6190 0.6058 0.5892 0.5892 0.5699 0.5847 0.5849 0.6060

1979 0.6475 0.5482 0.6396 0.6212 0.6159 0.6055 0.5900 0.5802 0.5749 0.5753 0.5803 0.5703 0.5957

1980 0.5563 0.5482 0.5591 0.5611 0.5611 0.5443 0.5431 0.5443 0.5338 0.5314 0.5317 0.5419 0.5464

1981 0.5323 0.5469 0.5722 0.5994 0.5994 0.5905 0.5992 0.6680 0.6671 0.6609 0.6488 0.6356 0.6100

1982 0.6437 0.6559 0.6643 0.6696 0.6696 0.6756 0.6794 0.6810 0.6843 0.6898 0.6892 0.6720 0.6729

1983 0.6736 0.6917 0.6999 0.7048 0.7048 0.7272 0.7447 0.7486 0.7486 0.7486 0.7486 0.7486 0.7241

1984 0.7486 0.7486 0.7486 0.7486 0.7486 0.7543 0.7676 0.7676 0.7682 0.7748 0.7957 0.8081 0.7649

1985 0.8203 0.8477 0.8746 0.8825 0.8917 0.8951 0.8951 0.8969 0.9157 0.9225 0.9234 0.9595 0.8938

1986 0.9996 0.9996 1.0016 1.0135 1.0341 1.1249 1.2694 1.3294 4.6406 4.1203 3.5311 3.1828 2.0206

1987 3.6471 3.7014 3.9213 3.9054 4.1617 4.0506 3.8081 4.0809 4.2073 4.2761 4.2890 4.1664 4.0179

1988 4.1748 4.2611 4.3169 4.2023 4.1103 4.1913 4.6087 4.5830 4.7167 4.7748 5.1479 5.3530 4.5367

1989 7.0389 7.3823 7.5871 7.5808 7.5051 7.3471 7.1388 7.2593 7.3401 7.3934 7.5037 7.6221 7.3916

1990 7.8621 7.9009 7.9388 7.9400 7.9400 7.9424 7.9523 7.9623 7.9743 8.0089 8.3246 8.7071 8.0378

Table D.3.1: Monthly Average Official Exchange Rate of the Naira (N/US$1.00)


17/42

1993 20.1078 21.9992 24.8801 22.5368 21.8861 21.8861 21.8861 21.8861 21.8861 21.8861 21.8861 21.8861 22.0511

1994 21.8861 21.8861 21.8861 21.8861 21.8861 21.8861 21.8861 21.8861 21.8861 21.8861 21.8861 21.8861 21.8861

1995 21.8861 21.8861 21.8861 21.8861 21.8861 21.8861 21.8861 21.8861 21.8861 21.8861 21.8861 21.8861 21.8861

1996 21.8861 21.8861 21.8861 21.8861 21.8861 21.8861 21.8861 21.8861 21.8861 21.8861 21.8861 21.8861 21.8861

1997 21.8861 21.8861 21.8861 21.8861 21.8861 21.8861 21.8861 21.8861 21.8861 21.8861 21.8861 21.8861 21.8861

1998 21.8861 21.8861 21.8861 21.8861 21.8861 21.8861 21.8861 21.8861 21.8861 21.8861 21.8861 21.8861 21.8861

1999 86.0000 86.0000 86.9659 90.0000 94.8800 94.8800 94.8800 94.8800 94.8800 94.8980 96.4541 97.6022 92.6934

2000 98.7800 99.9143 100.9319 100.3783 101.1452 101.8286 105.3286 102.8848 102.3619 102.4773 102.5205 106.7111 102.1052

2001 110.5045 110.7050 110.6550 113.7000 113.5667 112.4750 111.8455 111.6957 111.6000 111.6000 111.9864 112.9861 111.9433

2002 113.9625 114.2759 116.0400 116.1286 116.5500 118.4900 123.7232 125.7547 126.4491 126.5553 126.8294 126.8833 120.9702

2003 127.0695 127.3150 127.1640 127.3700 127.6676 127.8317 127.7720 127.8950 128.5750 129.7886 136.6067 137.2233 129.3565

2004 136.0823 135.1625 134.4317 133.5091 133.0119 132.7500 132.7991 132.8295 132.8445 132.8552 132.8690 132.8600 133.5004

2005 132.8600 132.8500 132.8500 132.8500 132.8200 132.8700 132.8700 133.2271 130.8102 130.8392 130.6271 130.2900 132.1470

2006 130.2900 129.5931 128.7043 128.4652 128.4518 128.4543 128.3811 128.3273 128.2902 128.2830 128.2858 128.2919 128.6516

2007 128.2772 128.2687 128.1513 127.9814 127.5596 127.4090 127.1859 126.6753 125.8826 124.2760 120.1206 118.2097 125.8331

2008 117.9768 118.2100 117.9218 117.8737 117.8342 117.8086 117.7671 117.7420 117.7256 117.7243 117.7433 126.4756 118.5669

2009 145.7803 147.1444 147.7226 147.2272 147.8427 148.2018 148.5890 151.8580 152.3017 149.3550 150.8469 149.9513 148.9017

2010 149.7792 150.2224 149.8285 149.8927 150.3125 150.1915 150.0986 150.2667 151.0332 151.2500 150.2211 150.4799 150.2980

2011 151.5455 151.9391 152.5074 153.9673 154.8009 154.5029 151.8636 152.7154 155.2636 153.2569 155.7693 158.2074 153.8616


Notes: The Dutch Auction System (DAS) commenced on July 22, 2002

The Wholesale Dutch Auction System (WDAS) commenced on February 20, 2006

The Exchange Rate from August 2005, includes 1% Commission


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Period January February March April May June July August September October November December Average

1995 79.8955 80.4586 81.5900 79.6000 79.6000 79.6000 79.6000 79.6000 81.5900 81.5900 84.5750 84.5750 81.0228

1996 84.5750 83.9204 82.0875 82.0875 82.0875 81.4905 80.5950 79.7896 79.6000 79.6000 79.6000 79.6000 81.2528

1997 79.6000 79.6000 82.7421 84.5750 84.5750 84.5750 83.3765 81.9691 81.3639 81.5900 79.4010 76.4255 81.6494

1998 76.5103 82.5353 83.5800 83.6356 84.5510 85.4564 84.1001 83.5800 85.0273 85.5700 85.5700 85.5700 83.8072

1999 85.5700 85.5700 86.6623 90.1929 94.3717 94.4056 94.4056 94.4056 94.4056 94.4752 96.2605 97.3891 92.3428

2000 98.4905 99.6274 100.6081 99.8783 100.5976 101.5142 104.8950 102.4350 101.8619 101.9773 102.0205 107.3823 100.1194

2001 109.9977 110.1925 110.1556 113.2263 113.5524 111.9750 111.3455 111.1978 111.1000 111.1000 111.5167 112.4864 111.5166

2002 113.4159 114.2526 115.5579 115.6286 116.0500 119.0450 124.1368 125.0086 125.9653 126.0553 126.3294 126.3883 120.4700

2003 126.5718 126.9844 130.3520 126.9830 127.1684 127.4010 127.3226 127.6052 128.1736 129.2755 136.1067 136.7314 129.2230

2004 135.5357 134.6553 133.9829 132.9900 132.5119 132.2500 132.2991 132.3291 132.3445 132.3815 132.3718 132.3578 133.0010

2005 132.3800 132.3532 132.3525 132.3525 132.3195 132.3694 132.3690 131.7520 129.0152 129.0444 128.3957 128.5010 131.1004

2006 129.7850 129.1033 128.2356 127.9622 127.9449 127.8559 127.8833 127.8251 127.7847 127.7769 127.7650 127.7820 128.1420

2007 127.1408 127.1335 127.1335 126.8398 126.4564 126.4564 126.6811 126.1749 125.3579 123.9018 119.8797 117.6365 125.0660

2008 116.8918 116.8754 116.8365 116.7917 116.7523 116.7274 116.6856 116.6591 116.6428 116.6419 116.6614 129.1602 117.7772

2009 142.3713 145.9059 146.4275 146.0009 147.0893 146.9658 147.3191 145.2897 151.3703 148.8159 150.5187 149.1876 147.2718

2010 147.8220 148.2374 147.8350 147.8980 148.3179 148.2232 148.1027 148.2495 149.0150 149.2180 148.2425 148.5590 148.3085

2011 149.5450 149.9347 150.4826 151.8961 152.7695 152.4732 149.8719 150.7033 153.2264 151.2145 153.6640 156.1379 151.8266


Notes:1Autonomous Foreign Exchange Market (AFEM) commenced in 1995

2The Dutch Auction System (DAS) was re-introduced on 22nd July, 2002

The Initial Buying and Selling Rates were N81.1800 / US $1.00 and N82.0000/ US $1.00, respectivelyThe Wholesale Dutch Auction System (WDAS) commenced on February 20, 2006

Table D.3.2: Monthly Average (AFEM1/DAS

2) Exchange Rates of the Naira - Central Rate (N/US$1.00)


19/42

US Pound Deutsche Japanese CFA French Swiss Dutch

Year Dollar Sterling Mark YEN Franc Franc Franc Guilder

1960 0.7143 2.0000 0.1701 0.0020 0.0029 0.1447 0.1633 0.1880

1961 0.7143 2.0000 0.1771 0.0020 0.0029 0.1447 0.1633 0.1957

1962 0.7143 2.0000 0.1786 0.0020 0.0029 0.1447 0.1633 0.1973

1963 0.7143 2.0000 0.1786 0.0020 0.0029 0.1447 0.1633 0.1973

1964 0.7143 2.0000 0.1786 0.0020 0.0029 0.1447 0.1633 0.1973

1965 0.7143 2.0000 0.1786 0.0020 0.0029 0.1447 0.1633 0.1973

1966 0.7143 2.0000 0.1786 0.0020 0.0029 0.1447 0.1633 0.1973

1967 0.7143 2.0000 0.1786 0.0020 0.0029 0.1447 0.1633 0.1973

1968 0.7143 2.0000 0.1786 0.0020 0.0029 0.1447 0.1633 0.1973

1969 0.7143 2.0000 0.1811 0.0020 0.0027 0.1375 0.1633 0.1973

1970 0.7143 1.7114 0.1952 0.0020 0.0026 0.1286 0.1633 0.1973

1971 0.6955 1.7156 0.1983 0.0020 0.0025 0.1255 0.1682 0.1977

1972 0.6579 1.6289 0.2063 0.0022 0.0026 0.1304 0.1723 0.2050

1973 0.6579 1.6289 0.2462 0.0024 0.0030 0.1478 0.2079 0.2353

1974 0.6299 1.4795 0.2434 0.0022 0.0026 0.1310 0.2114 0.2343

1975 0.6159 1.3618 0.2503 0.0021 0.0029 0.1436 0.2386 0.2435

1976 0.6265 1.1317 0.2488 0.0021 0.0026 0.1304 0.2506 0.2370

1977 0.6466 1.1671 0.2784 0.0024 0.0026 0.1318 0.2690 0.2635

1978 0.6060 1.2238 0.3017 0.0029 0.0027 0.1343 0.3389 0.2801

1979 0.5957 1.2628 0.3250 0.0027 0.0028 0.1400 0.3325 0.2970

1980 0.5464 1.2647 0.3006 0.0024 0.0026 0.1293 0.3261 0.2748

Table D.3.3.1: Average Naira Cross Exchange Rates - Selling


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1981 0.6100 1.2495 0.2699 0.0028 0.0022 0.1122 0.3106 0.2445

1982 0.6729 1.1734 0.2773 0.0027 0.0020 0.1024 0.3314 0.2520

1983 0.7241 1.1216 0.2836 0.0030 0.0019 0.0950 0.3450 0.2537

1984 0.7649 1.0765 0.2688 0.0032 0.0018 0.0875 0.3255 0.2384

1985 0.8938 1.1999 0.3036 0.0037 0.0020 0.0995 0.3638 0.2691

1986 2.0206 2.5554 1.8010 0.0226 0.0120 0.5497 2.1723 1.5931

1987 4.0179 6.5929 2.2374 0.0279 0.0221 0.6693 2.6985 1.9854

1988 4.5367 8.0895 2.5801 0.0354 0.0141 0.6395 3.0978 2.2955

1989 7.3916 12.0695 3.9349 0.0537 0.0226 1.1504 4.5186 3.4518

1990 8.0378 16.2419 5.5624 0.0639 0.0315 1.6516 6.5159 4.93371991 9.9095 17.4955 5.9484 0.0716 0.0344 1.7542 6.9119 5.2754

1992 17.2984 27.8684 11.1327 0.1367 0.0656 3.2887 12.3858 9.8885

1993 22.0511 33.2522 13.3871 0.1988 0.0776 3.9064 14.9480 11.9034

1994 21.8861 33.4252 13.5230 0.2088 0.0437 3.9367 15.9333 12.0307

1995 21.8861 34.5240 15.0895 0.2429 0.0438 4.3445 18.2195 13.3844

1996 21.8861 34.1229 14.5962 0.2049 0.0463 4.2906 17.8798 13.0228

1997 21.8861 35.7698 12.6511 0.1815 0.0376 3.7577 15.0985 11.2420

1998 21.8860 36.2166 12.4587 0.1679 0.0372 3.7170 15.1267 11.0822



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Year Dollar Sterling Mark YEN Franc Franc Franc Guilder

1995 81.0228 128.1561 57.0692 0.864 0.1646 16.4614 69.6084 50.9396

1996 81.2528 126.4165 53.8450 0.7462 0.1585 15.8460 65.6449 48.0489

1997 81.6494 133.7389 47.1927 0.6779 0.1402 14.0176 56.3134 42.0300

1998 83.8072 142.6141 51.2761 0.7106 0.1530 15.2940 62.6576 45.4813

19993

92.3428 156.4345 50.9023 0.9181 0.1510 15.1775 62.3621 45.1776

2000 100.8016 149.5363 0.9419 0.1369 59.3603

2001 111.7010 160.8263 0.9036 0.1523 67.8251

2002 126.2577 198.4343 1.0316 0.1924 86.1624

2003 134.0378 228.5466 1.2361 0.1719 102.5941

2004 132.3704 246.7350 1.2510 0.2526 111.8154

2005 130.6016 222.7629 1.0853 0.2329 99.2812

2006 128.2796 244.9759 1.0817 0.2484 103.6811

2007 125.8810 249.5403 1.0575 0.2567 103.83032008 118.8606 218.2469 1.1433 0.2672 113.6073

2009

Q1 145.8639 208.0914 1.5491 0.2871 125.9273

Q2 148.0762 226.5311 1.5039 0.3025 131.4980

Q3 150.9740 245.1522 1.5976 0.3350 140.6376

Q4 150.0124 242.8155 1.6538 0.3340 145.4776

2010

Q1 148.4670 231.9610 1.6354 0.3134 1.6354 140.3330

Q2 148.6464 221.4429 1.6136 0.2879 1.6136 134.0549

Q3 148.9641 230.9900 1.7139 0.2917 1.7374 144.4012

Q4 149.1732 235.9689 1.8088 0.3085 1.8087 153.1857

2011

Q1 150.4874 241.2271 1.8280 0.3118 159.6858

Q2 152.8796 249.1371 1.8709 0.3343 175.4440

Q3 151.7712 244.3046 1.9514 0.3259 184.5881Q4 154.1805 242.3712 1.9940 0.3162 168.9636

Notes:1Autonomous Foreign Exchange Market (AFEM) commenced in 1995

2The Dutch Auction System (DAS) was re-introduced on 22nd July, 2002

3The Euro became the official currency for EU member countries, including Germany, France and Netherland

effective from 1st January 1999

Table D.3.3.2: Average (AFEM1/DAS

2) Naira Cross Exchange Rates - Selling


22/42


Year Dollar Sterling Mark Yen Franc Franc Franc Guilder

1960 0.7143 2.0000 0.1787 0.0020 0.0029 0.1447 0.1659 0.1895

1961 0.7143 2.0000 0.1787 0.0020 0.0029 0.1447 0.1655 0.1984

1962 0.7143 2.0000 0.1787 0.0020 0.0029 0.1447 0.1654 0.1984

1963 0.7143 2.0000 0.1797 0.0020 0.0029 0.1447 0.1655 0.1984

1964 0.7143 2.0000 0.1796 0.0020 0.0029 0.1447 0.1655 0.1989

1965 0.7143 2.0000 0.1783 0.0020 0.0029 0.1447 0.1654 0.1978

1966 0.7143 2.0000 0.1796 0.0020 0.0029 0.1447 0.1651 0.1976

1967 0.7143 2.0000 0.1786 0.0020 0.0029 0.1447 0.1652 0.1986

1968 0.7143 2.0000 0.1786 0.0020 0.0029 0.1447 0.1660 0.1981

1969 0.7143 2.0000 0.1936 0.0020 0.0026 0.1286 0.1654 0.1971

1970 0.7143 2.0000 0.1958 0.0020 0.0026 0.1286 0.1655 0.1986

1971 0.6579 1.7156 0.2013 0.0021 0.0025 0.1286 0.1680 0.2019

1972 0.6579 1.6289 0.2055 0.0022 0.0026 0.1286 0.1743 0.2039

1973 0.6579 1.6289 0.2434 0.0023 0.0028 0.1397 0.2028 0.2329

1974 0.6162 0.6881 0.2557 0.0020 0.0028 0.1386 0.2426 0.2458

1975 0.6267 0.7789 0.2390 0.0021 0.0028 0.1397 0.2392 0.2331

1976 0.6308 0.8745 0.2670 0.0022 0.0025 0.1269 0.2575 0.2567

1977 0.6514 0.8435 0.3095 0.0027 0.0028 0.1384 0.3257 0.2857

1978 0.6475 0.7871 0.3542 0.0033 0.0031 0.1549 0.3997 0.3288

1979 0.5605 0.8109 0.3237 0.0023 0.0028 0.1394 0.3547 0.2941

1980 0.5445 0.787 0.2779 0.0027 0.0024 0.1206 0.3088 0.2557

1981 0.6369 0.8272 0.2825 0.0029 0.0022 0.1108 0.3541 0.2580

Table D.3.4.1: Naira Official Cross Exchange Rates - End Period


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1982 0.6702 0.912 0.2820 0.0029 0.0020 0.0997 0.3360 0.2554

1983 0.7486 0.9257 0.2748 0.0032 0.0018 0.0897 0.3435 0.2443

1984 0.8083 0.9107 0.2568 0.0032 0.0017 0.0843 0.3127 0.2277

1985 0.9996 0.6962 0.4061 0.0050 0.0026 0.1322 0.4814 0.3606

1986 3.3166 4.7411 1.6464 0.0203 0.0088 0.4983 1.9504 1.4546

1987 4.1916 7.6055 2.5438 0.0326 0.0149 0.7512 3.1243 2.2593

1988 5.3530 9.8496 3.0389 0.0433 0.0181 0.8908 3.6145 2.6961

1989 7.6500 12.4542 4.5631 0.0539 0.0249 1.3357 5.0246 4.0412

1990 9.0001 17.0642 5.9250 0.0663 0.0321 1.7245 6.9338 5.2509

1991 9.7545 16.8940 5.8042 0.0726 0.0349 1.7073 6.6880 5.1536

1992 19.6609 30.8185 12.3654 0.1574 0.0729 3.6326 13.6487 10.9930

1993 22.6309 33.8596 13.5902 0.2052 0.0792 3.9816 15.3507 12.1133

1994 21.8861 34.7039 14.2109 0.2217 0.0413 4.1346 16.9257 12.6807

1995 21.8861 34.3983 15.1326 0.2421 0.0440 4.3640 18.3445 13.3532

1996 21.8861 34.3340 14.5328 0.2000 0.0429 4.2790 17.7035 13.4637

1997 21.8861 35.8317 12.6110 0.1805 0.0375 3.7475 15.0794 11.1975

1998 21.8860 36.3655 12.4932 0.1684 0.0373 3.7269 15.1714 11.0705



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Table D.3.4.2: Naira Cross Exchange Rates - End Period


Year Dollar Sterling Mark Yen Franc Franc Franc Guilder Euro

1995 84.5750 130.1440 58.8307 0.8308 0.1710 17.0935 73.1998 52.5115

1996 79.6000 131.9821 51.2857 0.7032 0.1517 15.1709 60.1459 45.7042

1997 74.6250 124.3402 42.0517 0.5755 0.1257 12.5676 52.0325 37.3088

1998 84.3679 140.2057 48.1760 0.6493 0.1437 14.3716 58.5010 42.7381

19991

92.5284 146.5071 49.7391 0.7597 0.1484 14.8303 60.7599 44.1439 97.2086

2000 109.5500 163.0323 0.9546 0.1550 66.9621 101.8815

2001 112.4864 161.7534 0.8846 0.3350 68.0386 100.3039

2002 126.4000 203.7442 1.0652 0.1837 91.2043 132.5810

2003 135.4067 234.4640 1.2489 0.1711 105.3975 163.54132004 132.6700 249.9925 1.2763 0.2600 114.4798 175.0674

2005 130.4000 221.2385 1.0970 0.2234 97.5332 152.0798

2006 128.2700 249.3899 1.0672 0.2592 104.1410 167.4241

2007 117.9680 234.0205 1.0412 0.2574 103.7577 171.8946

2008 130.7500 190.4766 1.4115 0.2979 122.9316 182.8147

2009

Q1 145.2000 207.9119 1.4732 0.2821 127.6372 193.5081

Q2 146.2500 242.9213 1.5262 0.3034 135.4167 206.8122

Q3 146.8200 236.6151 1.6386 0.3205 142.4745 215.0179

Q4 147.6000 239.1268 1.5971 0.3148 144.6492 212.6916

2010

Q1 147.8000 224.1092 1.5816 0.2942 139.5261 199.3379

Q2 148.0000 222.3997 1.6671 0.2653 136.8723 181.6701

Q3 149.3500 237.3172 1.7906 0.2999 153.2581 203.5342

Q4 148.6700 230.7953 1.8271 0.2891 158.8864 199.0691

2011

Q1 151.0200 242.9912 1.8240 0.3144 165.0853 214.8864

Q2 151.2900 242.3818 1.8803 0.3271 181.1423 218.7805

Q3 154.1000 240.1649 2.0021 0.3098 170.9563 208.0196

Q4 156.2000 241.5634 2.0194 0.3007 166.1172 202.0760Source: Central Bank of Nigeria

Notes:1The Euro became the official currency for Germany, France and Netherland effective from 1st January 1999

The Inter Bank Foreign Exchange Market (IFEM) started on the 25th October, 1999Previous rates were Autonomous Foreign Exchange Market (AFEM) rates

All rates are central


25/42

Year January February March April May June July August September October November December

1999 90.00 86.00 90.00 90.00 94.88 94.88 94.88 94.88 94.88 95.00 97.10 98.20

2000 98.15 100.45 100.57 100.37 101.20 102.20 104.00 102.55 102.25 102.50 102.60 110.05

2001 110.80 110.60 110.70 114.20 113.10 112.00 111.70 111.60 111.60 111.60 112.60 113.45

2002 114.20 115.70 116.10 116.30 116.80 120.00 131.01 126.00 126.00 126.75 126.91 126.90

2003 127.27 127.02 127.22 127.81 127.82 127.92 127.73 128.30 128.36 132.52 138.20 137.00

2004 135.30 135.00 133.70 133.30 132.75 132.75 132.82 132.83 132.87 132.87 132.88 132.85

2005 132.86 132.86 132.86 132.85 132.83 132.87 132.86 132.04 129.50 129.53 129.01 129.00

2006 130.29 129.28 128.52 128.45 128.46 128.44 128.36 128.29 128.27 128.31 128.27 128.27

2007 128.28 128.28 128.06 127.87 127.49 127.31 127.12 126.20 125.64 123.10 118.86 117.97

2008 117.98 117.95 117.90 117.87 117.83 117.80 117.76 117.73 117.73 117.74 117.79 132.56

2009 145.96 147.31 147.16 147.36 148.17 148.22 151.25 152.42 148.79 150.63 149.79 149.58

2010 150.32 150.10 149.78 150.10 150.27 149.99 150.09 150.78 151.35 149.99 150.24 150.66

2011 151.85 152.07 153.04 154.45 155.13 153.31 151.96 153.92 156.15 151.75 157.87 158.27Source : Central Bank of Nigeria

Table D.3.4.3: Monthly Official Exchange Rate - End Period (N/US$1.00)


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1981 113.70 115.60 110.80 107.90 112.30 117.10 118.00 107.80 104.60 104.10 104.90 107.90 110.39

1982 107.80 108.20 108.20 108.70 106.10 109.60 110.60 110.90 111.30 111.50 112.90 112.50 109.86

1983 111.60 110.20 109.80 110.00 110.40 109.10 107.70 109.40 109.50 108.20 110.20 112.00 109.84

1984 113.70 111.40 108.70 109.90 112.70 111.90 113.10 114.10 117.50 118.00 113.00 114.40 113.20

1985 114.50 113.80 110.50 104.00 103.30 101.70 98.20 95.80 94.90 89.90 88.40 83.80 99.90

1986 79.40 77.00 75.30 74.30 72.20 66.50 57.70 54.00 15.40 15.10 17.20 18.60 51.89

1987 16.50 16.10 15.40 15.20 14.30 14.80 15.60 14.60 14.10 13.80 13.10 13.10 14.72

1988 13.60 13.60 13.30 13.50 13.90 13.90 13.10 13.20 12.90 12.40 11.30 10.90 12.97

1989 9.30 8.80 8.60 8.70 9.00 9.20 9.20 9.10 8.90 8.80 8.60 8.30 8.88

1990 8.20 8.10 8.10 8.10 8.00 8.00 7.80 7.60 7.60 7.40 7.00 6.70 7.72

1991 6.40 6.00 6.50 7.20 6.80 6.50 6.00 5.70 6.20 6.40 6.30 6.10 6.34

1992 6.40 6.00 3.60 3.40 3.30 3.30 3.20 3.10 3.00 3.10 3.30 3.20 3.74

1993 3.20 3.00 2.60 2.80 2.90 2.90 3.00 3.00 3.00 3.00 3.10 3.10 2.97

1994 3.10 3.10 3.00 3.00 3.00 3.00 2.90 2.90 2.90 2.80 2.90 2.90 2.96

1995 0.70 0.70 0.70 0.70 0.70 0.70 0.70 0.80 0.80 0.80 0.80 0.80 0.74Source: Central Bank of Nigeria

Notes:1Indices are trade-weighted and provided at 1985 base period.

Table D 3.5.1: Nominal Effective Exchange Rate Indices for Nigeria1


27/42


1996 31.01 31.25 30.71 30.51 30.35 30.05 30.19 29.75 29.57 29.63 29.57 29.44 30.17

1997 28.98 28.67 29.73 30.25 30.43 30.29 29.14 28.38 28.35 28.43 27.34 26.05 28.83

1998 25.77 28.10 28.11 28.84 28.34 27.69 28.06 28.22 28.74 29.50 29.19 29.29 28.32

1999 72.13 68.14 71.52 71.44 74.90 74.85 75.53 74.94 74.94 75.21 76.06 77.20 73.91

2000 76.41 77.93 77.76 76.33 76.81 78.14 78.64 76.74 75.79 74.73 75.15 82.09 77.21

2001 82.71 82.07 80.56 82.81 80.89 79.94 80.62 81.67 81.08 80.51 81.10 81.68 81.30

2002 81.50 82.67 83.34 84.34 85.59 89.02 95.84 93.05 91.79 92.58 93.00 94.69 88.95

2003 95.93 95.65 96.27 98.16 100.00 99.58 98.92 98.53 100.60 104.31 109.29 110.33 100.63

2004 108.64 108.57 107.67 106.04 105.31 105.13 104.93 105.27 106.12 107.29 109.28 110.54 107.07

2005 109.49 109.77 108.81 109.11 107.84 107.25 106.88 106.41 104.34 103.76 102.47 102.87 106.58

2006 105.20 103.99 103.74 105.16 104.55 104.74 104.51 105.16 104.68 105.29 106.55 106.72 105.02

2007 106.22 106.82 107.30 108.63 108.54 108.38 109.12 108.80 109.32 108.19 98.11 97.48 106.41

2008 80.81 81.41 82.16 81.81 81.50 81.94 81.80 79.71 77.57 73.97 73.21 84.52 80.03

2009 90.72 90.61 91.91 92.57 96.11 96.18 98.35 99.16 98.00 100.16 100.00 98.63 96.03

2010 97.88 96.88 96.95 97.21 94.40 95.76 96.09 95.65 98.88 98.51 96.42 97.87 96.88

2011 99.72 99.90 101.55 104.28 102.99 102.54 101.49 101.62 100.41 99.24 100.73 99.73 101.18

Source: National Bureau of Statistics

Note:1Base period for indices is May 2003

Base period for indices is November 2009


- Continued


- Continued


28/42


1996 17.93 18.32 18.33 18.34 19.18 19.47 20.23 20.16 19.82 19.47 19.06 18.57 19.07

1997 18.41 18.35 19.73 20.10 20.52 20.70 20.43 19.38 18.78 18.73 17.88 17.61 19.22

1998 17.27 18.80 19.04 19.92 19.68 19.81 20.51 20.47 20.31 20.74 20.83 21.13 19.88

1999 53.06 50.34 53.07 53.09 56.10 56.42 56.07 53.57 53.00 52.59 53.16 54.59 53.76

2000 53.46 55.05 55.17 55.09 57.08 60.35 60.24 60.09 59.97 59.32 58.76 64.41 58.25

2001 65.95 66.55 65.62 71.41 71.46 69.28 70.58 72.76 74.05 74.25 72.41 72.67 70.58

2002 75.03 77.13 77.51 79.78 81.25 84.62 95.52 91.66 89.87 87.30 90.33 91.60 85.13

2003 94.59 92.41 91.43 97.29 100.00 104.61 108.01 105.98 113.20 118.24 125.53 128.87 106.68

2004 127.90 127.99 122.56 120.63 122.66 122.29 123.25 124.31 126.73 130.44 133.77 137.72 126.69

2005 137.33 139.34 139.59 141.54 142.57 144.09 153.69 156.26 149.40 144.14 139.39 138.05 143.78

2006 140.94 141.20 144.24 148.38 146.95 146.44 148.73 154.10 154.48 151.41 152.18 150.91 148.33

2007 149.42 150.76 152.25 155.07 155.00 156.81 158.70 162.31 162.81 157.21 154.40 154.29 155.75

2008 101.25 101.83 102.48 101.34 99.81 97.36 95.83 88.51 85.11 80.73 79.14 90.27 93.64

2009 96.72 96.53 97.52 98.54 100.79 99.81 100.18 99.35 98.54 100.34 100.00 96.92 98.77

2010 95.78 93.35 95.05 94.25 92.08 90.77 91.55 90.03 91.80 91.67 90.19 91.21 92.31

2011 93.31 93.73 91.20 94.65 93.07 91.60 90.22 88.82 86.46 85.08 86.26 84.56 89.91

Source: National Bureau of Statistics

Note: 1Base period for indices is May 2003

2Base period for indices is November 2009

Table D 3.5.1: Real Effective Exchange Rate Indices for Nigeria1

Table D 3.5.1: Real Effective Exchange Rate Indices for Nigeria2

- Continued


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Budget Disbursement Change b/w

(1) (2) (1) & (2)

1970 934.6 -934.6

1971 1,434.1 1,318.2 115.9

1972 2,002.4 1,732.8 269.6

1973 1,984.4 2,415.7 -431.3

1974 4,323.1 3,129.1 1,194.0

1975 8,043.0 7,336.0 707.0

1976 7,347.5 8,732.7 -1,385.2

1977 8,745.7 9,392.3 -646.6

1978 10,430.6 13,817.4 -3,386.8

1979 10,203.1 11,580.4 -1,377.3

1980 11,656.2 17,325.3 -5,669.1

1981 20,667.5 25,316.0 -4,648.5

1982 14,261.8 18,879.2 -4,617.4

1983 9,951.8 15,094.5 -5,142.7

1984 10,468.0 11,656.9 -1,188.9

1985 8,964.8 11,724.8 -2,760.0

1986 6,844.3 6,481.9 362.4

1987 4,974.0 5,312.8 -338.8

1988 7,104.0 5,200.6 1,903.4

1989 6,479.0 5,837.0 642.0

1990 7,489.2 7,437.6 51.6

1991 10,369.2 8,208.1 2,161.1

1992 8,998.0 8,056.9 941.1

1993 2,232.5 5,621.4 -3,388.9

1994 8,130.8 5,177.3 2,953.5

1995 10,697.2 20,456.5 -9,759.3

1996 15,500.0 17,181.5 -1,681.5

1997 14,266.0 9,995.3 4,270.7

1998 16,036.0 10,781.1 5,254.9

1999 12,139.2 10,129.8 2,009.4

2000 3,034.8 11,810.9 -8,776.1

2001 14,737.2

2002 13,110.2

2003 16,314.42004 15,342.2

2005 24,307.5

2006 24,321.6

Table D.3.6: Foreign Exchange Budget and Disbursement (US$' Million)

Year


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Table D.3.7.1: Sectoral Utilization of Foreign Exchange for Transactions Valid for Foreign Exchange (US$' Million)

Category 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007

(A) Imports 4,369.7 4,337.5 5,142.9 6,072.0 7,924.7 8,118.4 9,740.6 10,195.2 12,768.9 14,519.4 18,674.2

1. Industrial Setor 2,913.2 2,304.3 2,786.3 3,079.0 4,388.2 4,149.1 4,836.8 4,841.2 6,928.1 7,814.9 9,455.0

(i) Raw Materials 1,486.3 1,436.6 1,685.2 2,038.4 2,739.6 2,405.6 2,848.6 3,038.1 4,560.1 4,897.4 6,054.4

(ii) Machinery, Spare Parts & CKD 1,426.9 867.7 1,101.1 1,040.6 1,648.6 1,743.5 1,988.2 1,803.1 2,368.0 2,917.5 3,400.5

2. Agricultural Sector 46.6 93.3 82.4 194.2 185.0 178.3 106.8 121.3 116.2 169.8 209.4

3. Finished Goods 1,310.9 1,801.4 2,082.5 2,442.3 2,818.1 3,334.7 3,920.2 4,270.5 4,218.4 5,704.0 7,721.0

(i) Food 663.6 744.3 813.2 777.0 1,246.8 1,425.9 1,375.5 1,420.7 1,395.5 1,674.0 1,751.2

(ii) General Merchandise 647.3 1,057.1 1,269.4 1,665.3 1,571.4 1,908.8 2,544.7 2,849.8 2,822.9 4,030.0 5,969.7

(a) Drug & Pharmaceuticals 72.8 96.2 140.7 207.2 198.6 114.9 126.3 147.4 157.5 176.5 162.0(b) Books & Educational Materials 38.0 51.8 78.6 172.4 98.2 95.8 59.4 48.2 49.7 56.8 73.3

(c) Cement 57.3 118.0 156.5 136.7 299.7 254.8 343.9 370.1 394.7 455.8 481.0

(d) Other Building Materials 15.8 122.3 97.0 160.6 140.4 108.8 101.9 104.8 231.6 134.4 205.1

(e) Detergents 4.6 7.6 6.7 23.6 32.2 19.5 7.2 2.6 5.4 25.7 12.8

(f) Alcohol 12.7 13.3 1.3 8.4 27.4 21.4 12.5 10.8 10.8 17.3 11.0

(g) Insecticides 5.6 14.5 33.4 77.5 59.1 32.1 14.3 9.6 8.4 40.1 63.9

(h) Lubricants 26.7 32.1 56.6 31.7 90.0 109.2 175.0 181.1 128.0 1,090.7 1,678.3

(i) Glass Products 7.2 9.9 17.3 28.0 25.8 26.5 33.2 26.3 36.5 26.4 32.9

(j) Furniture/Wood Products 10.3 14.3 6.3 35.1 16.3 19.1 34.3 38.0 19.4 37.8 38.2

(k) Others 396.4 577.2 675.0 784.2 583.5 1,106.7 1,636.8 1,910.7 1,780.8 1,968.4 3,211.3

4. Transport 98.9 138.0 189.0 356.1 533.3 456.3 876.3 948.0 1,504.0 828.8 1,288.8

(i) Aircraft/Shipping Vessels 4.9 2.3 12.7 92.6 26.9 6.4 21.0 8.6 37.7 58.3 125.4

(ii) Motor Vehicles (Cars) 60.0 79.4 85.6 150.2 193.4 188.5 368.0 408.1 525.7 404.2 792.3

(iii) Buses/Trucks/Lorries 22.6 34.2 71.7 69.3 102.6 65.9 74.5 95.5 187.8 145.2 183.6

(iv) Rolling Stocks 3.8 2.9 1.8 13.4 37.6 12.3 7.1 11.6 19.2 10.3 35.2

(iv) Motorcycles & Bicycles 7.7 19.3 17.1 30.7 172.9 183.2 405.7 424.2 733.5 210.8 152.3

5. Personal Effects 0.0 0.4 2.6 0.5 0.0 0.0 0.5 14.3 2.2 1.9 0.1

6. Minerals

7. Oil Sector

B. Invisibles 413.4 516.0 703.9 1,764.2 3,426.8 2,112.7 2,364.9 1,953.2 2,096.2 4,159.5 8,394.0

(i) Education 41.7 9.5 14.3 25.6 44.9 47.0 60.6 67.9 84.3 105.6 123.4

(ii) Personal Home Remittances 4.0 4.6 9.6 20.4 20.5 38.3 11.5 17.6 14.3 35.4 26.5

(iii) Airline Remittances 19.9 37.2 75.8 110.1 233.3 218.1 280.7 316.9 260.6 259.6 471.5

(iv) Travels (PTA) 127.1 167.3 274.4 753.7 771.6 563.0 655.4 171.5 72.9 51.1 9.8

(v) Travels (BTA) 0.0 0.0 0.0 0.0 1,167.7 279.7 96.3 8.2 2.1 7.6 1.2

(vi) Estacode 0.0 0.0 0.0 0.0 18.8 7.8 6.6 7.9 6.2 4.8 9.9

(vii) Re-Insurance 3.8 2.3 3.7 13.8 2.8 6.0 6.7 10.3 4.1 7.1 5.1

(viii) Contract Services Fees 8.7 6.5 12.3 49.0 83.0 79.2 73.1 109.3 106.2 66.7 63.8

(ix) Technical Services Fees 30.6 21.4 29.8 62.2 150.8 158.2 275.4 250.9 224.2 295.6 345.6

(x) Royalty 8.2 9.1 14.3 10.4 19.4 17.8 30.0 36.4 25.5 28.0 78.5

(xi) License 0.7 0.1 0.2 2.1 10.6 16.9 19.8 28.3 42.0 57.0 95.7

(xii) Trade Mark 0.0 0.0 0.0 0.1 0.2 2.0 0.2 0.5 0.4 1.5 8.6

(xiii) Consultancy Fees 1.0 0.8 2.2 6.3 19.3 18.8 35.5 30.8 12.1 16.5 48.5

(xiv) Management Services Fees 3.5 5.6 1.5 6.0 23.5 7.2 29.4 14.3 70.3 47.4 90.2

(xv) Aircraft Lease & Maintenance Fees 28.9 5.1 11.5 60.4 91.2 45.1 68.5 39.9 28.8 77.4 50.7

(xvi) Shipping Vessels Charter & Maintenance Fees 12.9 5.2 0.7 41.7 80.4 107.2 148.9 136.5 33.8 25.6 1.4(xvii) Investment Income - Profit & Dividend 43.2 66.3 57.7 83.6 105.7 151.0 232.6 197.7 232.1 1,161.2 1,940.7

(xix) Repatration of Capital 6.2 0.6 6.0 86.4 180.9 90.3 32.0 179.6 404.5 651.6 2,250.3

(xx) Others 72.8 174.2 189.8 432.4 402.1 259.1 301.6 328.5 471.9 1,259.6 2,772.6

Total (A+ B) 4,783.0 4,853.5 5,846.8 7,836.2 11,351.5 10,231.0 12,105.4 12,148.5 14,865.1 18,678.9 27,068.2


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2008 2009 Quarter1 Quarter 2 Quarter 3 Quarter 4 Quarter1 Quarter 2 Quarter 3

A. Imports 30,148,793.16 23,761,042.95 4,923,847.40 5,926,305.51 6,764,133.29 6,210,694.92 5,878,476.59 7,911,290.47 10,319,486.64

1. Industrial Sector 10,552,505.90 7,378,085.61 1,205,963.27 1,423,811.07 1,686,954.07 1,857,330.91 1,539,437.29 1,848,008.25 2,001,381.64

2. Food Products 3,974,499.84 3,433,800.95 770,984.50 1,099,630.30 1,442,687.09 1,067,801.45 1,105,892.76 1,333,843.54 1,491,102.46

3. Manufactured Products 6,810,416.78 6,027,509.26 1,305,859.86 1,392,995.36 1,279,957.52 1,302,327.33 1,088,751.16 1,100,732.34 1,172,021.07

4. Transport Sector 1,672,055.44 1,564,059.48 335,902.63 355,077.14 439,607.61 341,294.64 323,362.15 456,588.81 472,711.18

5. Agricultural Sector 364,035.08 271,722.00 30,257.64 47,654.36 142,936.29 93,381.75 167,527.45 71,838.25 73,637.13

6. Minerals 302,144.45 154,742.21 58,448.61 55,378.93 40,394.91 40,660.59 105,668.04 117,837.61 1,070,164.06

7. Oil Sector 6,473,135.67 4,931,123.44 1,216,430.88 1,551,758.34 1,731,595.79 1,507,898.25 1,547,837.74 2,982,441.67 4,038,469.10

B. Invisibles 18,176,659.25 8,835,372.10 1,895,687.21 2,265,110.00 2,655,176.12 2,729,909.53 1,688,028.90 2,585,773.49 8,438,363.54

1. Business Services 1,556,891.87 1,487,427.94 326,394.63 391,293.70 357,276.96 297,562.48 260,688.16 305,061.44 435,612.36

2. Communication Services 839,316.39 345,487.16 71,014.66 43,785.79 71,774.04 101,381.18 29,051.73 54,595.89 33,425.74

3. Construction & Related

Engineering Services 37,413.17 42,385.30 14,089.87 29,881.48 22,842.15 66,952.53 23,193.31 14,082.17 22,990.304. Distribution Services 66,544.02 44,498.55 10,565.35 15,527.04 13,309.68 23,221.72 12,775.57 2,496.87 25,759.22

5. Educational Services 714,202.74 192,725.64 26,685.11 26,137.79 64,804.30 40,490.44 25,667.38 30,442.74 61,647.92

6. Environmental Services 0.00 133.25 81.41 0.00 26.27 0.00 0.00 0.00 1,331,422.73

7. Financial Services 14,287,016.00 5,882,952.80 1,257,903.08 1,527,090.50 1,858,744.67 1,981,766.48 1,167,436.31 1,935,538.31 1,827,260.98

8. Health Related & Social Services 7,008.39 4,327.48 301.54 272.95 182.46 183.27 296.16 203.78 943.45

9. Tourism & Travel Related Services 29,663.84 10,489.07 1,369.92 30,882.02 15,565.75 4,703.42 11,009.70 8,839.63 4,864.04

10. Recreational, Cultural &

Sporting Services 435.30 369.70 30.00 16.30 7.15 109.69 0.00 0.00 81,938.02

11. Transport Services 534,181.41 711,994.67 175,628.03 187,485.21 231,914.90 192,124.34 134,394.80 205,904.62 260,451.02

12. Other Services not

Included Elsewhere 103,986.13 112,580.54 11,623.60 12,737.22 18,727.80 21,413.96 23,515.76 28,608.05 4,352,047.78

Total (A + B) 48,325,452.40 32,596,415.05 6,819,534.61 8,191,415.51 9,419,309.41 8,940,604.45 7,566,505.49 10,497,063.96 18,757,850.18


Note:1Provisional

Table D.3.7.2: Sectoral Utilization of Foreign Exchange for Transactions Valid for Foreign Exchange (US$' Thousand) - Continued

Category

2010 2011


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Month 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

January

42.34 137.36 467.80 560.66 419.10 1,009.99 711.11 665.33 777.25 820.49 156.70 840.26 1,163.39 1,279.89 1,890.92 2,135.54

February 392.26 169.67 328.71 370.53 376.89 531.44 753.78 781.22 747.74 780.14 833.02 237.40 1,544.59 707.52 3,191.40 2,117.85 2,094.89

March 203.99 284.99 246.09 485.70 538.75 691.92 656.70 786.61 690.16 831.23 315.50 1,687.27 603.17 3,141.31 2,064.21 3,604.91

April 267.96 187.15 337.78 282.88 445.43 467.60 967.48 699.13 731.21 741.62 759.35 879.80 947.76 826.10 2,622.52 2,147.12 2,697.84

May 149.72 311.84 358.26 536.00 600.79 674.41 618.99 636.55 982.96 816.14 1,066.90 1,739.67 1,380.79 3,112.08 2,984.81 2,941.92

June 379.93 160.97 171.83 326.13 510.43 593.77 662.23 651.64 908.29 969.76 1,053.36 981.40 1,901.83 1,460.78 2,103.67 2,941.44 2,990.66

July 241.22 168.74 304.86 292.64 718.15 779.11 332.66 805.05 895.67 1,143.15 551.90 1,747.32 2,211.78 1,815.81 2,576.36 3,041.49

August 196.26 231.00 359.46 322.55 618.74 1,227.90 628.10 740.44 673.95 1,206.44 1,140.10 1,110.79 2,046.23 3,065.53 2,399.36 3,403.33

September 436.55 149.73 267.29 485.61 319.83 682.16 747.93 662.41 873.07 818.41 815.88 2,049.50 1,180.17 1,380.30 2,460.83 4,207.31 4,845.65

October 188.35 307.74 335.88 315.92 738.03 803.20 672.92 728.60 769.74 755.32 1,385.90 748.09 4,398.15 1,743.05 2,820.79 3,323.76

November 199.12 110.08 193.38 248.31 335.25 655.49 964.35 558.76 1,090.90 775.94 652.33 1,796.00 1,175.50 4,357.88 1,788.96 1,841.89 2,544.99

December 47.56 198.68 347.30 332.97 692.40 753.95 620.42 662.18 581.03 498.93 2,042.70 1,446.70 957.53 1,206.21 2,180.24 2,073.51


Notes: ... Indicates "not available"

The supply figures include foreign exchange sold to Bureaux-de-Change which started from April, 2006

Table D.3.8: Supply of Foreign Exchange (US$' Million)


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Table D.3.9: Monthly Average Exchange Rate Movements at BDC & IFEM Segments of the FOREX Market (N/US$1.00)

Month 2004 2005 2006 2007 2008 2009 2010 2011 2004 2005 2006 2007 2008 2009 2010 2011

January 147.65 139.80 144.09 130.04 120.80 149.88 153.55 156.13 137.76 133.11 129.93 128.37 117.72 146.59 150.33 152.47

February 142.95 139.93 145.47 130.00 119.57 156.93 152.08 155.11 136.44 133.15 129.33 128.33 117.50 149.12* 150.97 152.86

March 139.92 139.73 148.46 129.34 119.00 174.32 151.85 157.09 134.80 133.09 128.68 128.25 116.79 150.08 155.21

April 138.85 141.77 147.85 129.00 118.93 180.27 152.00 157.05 137.23 133.06 128.58 127.99 117.47 150.38 154.60

May 139.64 141.21 142.33 129.16 118.80 180.63 153.26 158.05 134.81 133.37 128.57 127.62 117.79 151.49 156.17

June 140.00 141.85 136.82 128.32 118.70 166.14 153.87 158.32 133.54 134.35 128.50 127.50 117.74 148.54 151.28 155.65

July 139.84 143.94 130.12 127.52 119.00 155.13 152.41 163.71 134.39 135.35 128.43 127.20 117.71 149.88 150.27 152.41

August 140.33 145.82 130.46 127.39 119.00 158.95 152.23 163.10 133.23 135.94 128.43 126.59 117.69 155.23 150.70 153.79

September 141.08 145.80 130.21 126.50 119.00 158.00 153.85 158.23 133.77 132.55 128.39 125.73 117.62 153.25 152.62 156.70

October 140.54 144.99 130.30 126.50 119.00 153.05 153.98 161.25 133.76 131.09 128.42 123.43 117.72 150.22 151.78 159.82

November 140.69 143.94 129.82 123.80 119.10 152.95 153.13 160.35 133.15 130.80 128.42 119.45 117.88 151.03 150.55 158.83

December 138.71 141.93 129.32 121.39 137.65 153.48 154.57 163.30 133.14 130.08 128.39 118.22 134.33 149.80 152.63 162.17

Average 140.85 142.56 137.10 127.41 120.71 161.64 153.06 159.31 134.67 133.00 128.67 125.72 119.00 150.57 151.09 155.89

End-Period 138.50 141.50 129.50 121.00 139.00 155.00 156.00 165.00 132.67 130.40 128.50 118.05 140.00 149.58 152.00 159.70Source: Central Bank of Nigeria

Note: * Operations of the Inter-Bank Foreign Exchange Market (IFEM) was stopped from trading mid-February 2009 and reopened for trading in June 2009

Bureau-de-Change Inter-Bank Rate


34

Documents

2011 Statistical Bulletin- Section D_FinalWeb