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ProfRem
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The Central of Nigeria on Friday released the nation's economic report for the second quarter of 2016.
According to the report, growth on quarter-on-quarter basis accelerated in the second quarter of 2016.
“Over the level at the end of the preceding quarter, broad money supply, (M2), grew by 5.9 per cent.
The Apex bank said: “The development reflected the increase in net foreign assets, domestic credit (net) and other assets (net) of the banking system, respectively.
Highlight of the report:
Read Full Report: HERE
According to the report, growth on quarter-on-quarter basis accelerated in the second quarter of 2016.
“Over the level at the end of the preceding quarter, broad money supply, (M2), grew by 5.9 per cent.
The Apex bank said: “The development reflected the increase in net foreign assets, domestic credit (net) and other assets (net) of the banking system, respectively.
Highlight of the report:
- 2Q oil exports 1.09m bpd vs 1.37m in 1Q
- Industrial production declined in 2Q relative to pvs quarter
- 2Q govt revenue 51% lower than budget estimate
- Revenue 1.16T naira in 2Q vs 1.27T naira in 1Q
Read Full Report: HERE
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