2011 Statistical Bulletin- Section D_FinalWeb
Transcript of 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
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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 - - - - -
Liabilities to direct investors - - - - -
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
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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$' Million) - Continued
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Category 2005 2006 20071
20081
20091
20101
Table D.2.1: Balance of Payments (US$' 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 - - -
Other Sector - - - - -
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
Liabilities to direct investors - - - - -
Reinvested earnings - (5.87) (6.97) (7.87) (11.58) (12
Other capital - - - - -
Claims on direct investment enterprises - - - - -
Liabilities to direct investors - - - - -
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
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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 - - - - - - -
Monetary Authority - - - - - - -
General Government - - - - - - -
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 - - - - - - -
General Government - - - - - - -
Banks 36,032.55 54,648.98 66,590.11 166,567.80 198,309.65 185,550.82 173,805.23
Other Sector - - - - - - -
Financial Derivatives - - - - - - -
Monetary Authority - - - - - - -
General Government - - - - - - -
Banks - - - - - - -
Other Sector - - - - - - -
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
Monetary Authority - - - - - - -
General Government - - - - - - -
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
Monetary Authority - - - - - - -
Long-term - - - - - - -
Short-term - - - - - - -
General Government - - - - - - -
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)
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Financial Derivatives - - - - - - -
Monetary Authority - - - - - - -
General Government - - - - - - -
Banks - - - - - - -
Other Sector - - - - - - -
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 - - - - - - -
Monetary Authority - - - - - - -
General Government - - - - - - -
Banks - - - - - - -
Other Sector - - - - - - -
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
Monetary Authority - - - - - - -
General Government - - - - - - -
Banks 717,767.61 720,137.28 762,585.21 820,619.31 864,146.10 836,443.65 1,103,642.48
Other Sector - - - - - - -
Source: Central Bank of Nigeria
Notes: 1Revised 2Provisional
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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
Monetary Authority - - - - - - -
General Government - - - - - - -
Banks 2,546.62 3,923.17 5,643.86 9,710.55 10,472.09 11,508.15 12,975.89
Other Sector - - - - -
Debt Securities 276.56 426.05 564.47 1,256.55 1,325.78 1,231.59 1,098.16
Bonds and Notes - - - - - - -
Monetary Authority - - - - - - -
General Government - - - - - - -
Banks - - - - - - -
Other Sector - - - - - - -
Money Market 276.56 426.05 564.47 1,256.55 1,325.78 1,231.59 1,098.16
Monetary Authority - - - - - - -
General Government - - - - - - -
Banks 276.56 426.05 564.47 1,256.55 1,325.78 1,231.59 1,098.16
Other Sector - - - - - - -
Financial Derivatives - - - - - - -
Monetary Authority - - - - - - -
General Government - - - - - - -
Banks - - - - - - -
Other Sector - - - - - - -
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
Monetary Authority - - - - - - -
General Government - - - - - - -
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
General Government - - - - - - -
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
Other Sector - - - - - - -
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)
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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
Monetary Authority - - - - - - -
General Government - - - - - - -
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
Monetary Authority - - - - - - -
General Government 3,063.00 4,074.70 5,132.79 6,489.98 6,582.08 7,266.99 8,275.52
Banks - - - - - - -
Other Sector - - - - - - -
Money Market 264.60 293.49 441.41 1,378.32 1,459.44 2,343.15 3,121.39
Monetary Authority - - - - - - -
General Government - - - - - - -
Banks 264.60 293.49 441.41 1,378.32 1,459.44 2,343.15 3,121.39
Other Sector - - - - - - -
Financial Derivatives - - - - - - -
Monetary Authority - - - - - - -
General Government - - - - - - -
Banks - - - - - - -
Other Sector - - - - - - -
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 - - - - - - -
Monetary Authority - - - - - - -
General Government - - - - - - -
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
Monetary Authority - - - - - - -
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
Monetary Authority - - - - - - -
General Government - - - - - - -
Banks 5,509.00 5,614.23 6,464.23 6,190.55 5,777.15 5,551.86 6,973.16
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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
Source: Central Bank of Nigeria
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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)
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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
Source: Central Bank of Nigeria
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
Source: Central Bank of Nigeria
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)
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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
Source: Central Bank of Nigeria
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US Pound Deutsche Japanese CFA French Swiss Dutch
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
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US Pound Deutsche Japanese CFA French Swiss Dutch
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
Source: Central Bank of Nigeria
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Table D.3.4.2: Naira Cross Exchange Rates - End Period
US Pound Deutsche Japanese CFA French Swiss Dutch
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
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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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Period January February March April May June July August September October November December Average
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
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Period January February March April May June July August September October November December Average
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
Table D 3.5.1: Nominal Effective Exchange Rate Indices for Nigeria1
- Continued
Table D 3.5.1: Nominal Effective Exchange Rate Indices for Nigeria2
- Continued
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Period January February March April May June July August September October November December Average
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
Source: Central Bank of Nigeria
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
Source: Central Bank of Nigeria
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
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