Business CBN Releases Economic Report For Second Quarter 2016

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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.

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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
Details later....


Read Full Report: HERE
 
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