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Developments In Nigerias' External Sector During The Third Quarter Of 1986., Department Research Dec 1986

Developments In Nigerias' External Sector During The Third Quarter Of 1986., Department Research

Economic and Financial Review

A review of the developments in Nigeria's external sector during the third quarter of 1986.


Developments In The Financial System During The Third Quarter Of 1986, Central Bank Of Nigeria Cbn Sep 1986

Developments In The Financial System During The Third Quarter Of 1986, Central Bank Of Nigeria Cbn

Economic and Financial Review

The narrow measure of money stock, (Ml), declined during the third quarter due, on the one hand, to increases in quasi money and 'other' assets of the banking system and on the other, partially offsetting increases in foreign assets and in credit to the domestic economy. The broader measure, (M2), maintained an upward trend. The money and capital market both recorded moderate increases in the level activities during the quarter.


Developments In The Agricultural Sector Of The Economy During The Third Quarter Of 1986, Central Bank Of Nigeria Cbn Sep 1986

Developments In The Agricultural Sector Of The Economy During The Third Quarter Of 1986, Central Bank Of Nigeria Cbn

Economic and Financial Review

Harvesting of grains and tubers was the dominant activity in the agricultural sector in most parts of the country during the third quarter of 1986. In spite of the lower-than-average amounts of rainfall recorded during the first half of the year, a bumper harvest of maize, rice, yams and cassava was reported


Foreign Private Investment In Nigeria In 1984, Central Bank Of Nigeria Cbn Sep 1986

Foreign Private Investment In Nigeria In 1984, Central Bank Of Nigeria Cbn

Economic and Financial Review

This report presents the results of the Central Bank of Nigeria's annual survey of Foreign Private Investment in the country in 1984. The survey was conducted through questionnaires sent to companies I whose capital structure was wholly foreign 2 or joint Nigeria/Foreign. The report is presented under the following subheadings: flow of foreign private capital, components of net capital flow, cumulative and net investments by country/region of origin and economic sectors, cumulative/net short and long term investment, cumulative and net investment in the manufacturing and processing sector by type of industry, stock of fixed asset at cost and at book …


Statistical Section (September 1986), Central Bank Of Nigeria Cbn Sep 1986

Statistical Section (September 1986), Central Bank Of Nigeria Cbn

Economic and Financial Review

This is a statistical representation of economic activities in Nigeria in September 1986


Developments In Nigeria's External Sector During The Third Quarter Of 1986, Central Bank Of Nigeria Cbn Sep 1986

Developments In Nigeria's External Sector During The Third Quarter Of 1986, Central Bank Of Nigeria Cbn

Economic and Financial Review

Nigeria's external transactions during the third quarter of 1986 resulted in a net inflow of N466.9 million in contrast with the net outflows of N25 million at the end of the preceding quarter and N247.1 million during the third quarter of 1985 (See Table 1). The apparent tum-around, did not, however, reflect any real improvement in the country's tight foreign exchange situation. In fact, outstanding arrears on current transactions at the end of the quarter showed an increase over the level at the end of the second quarter. The net inflow figure therefore was largely the result of administrative measures …


Activities Of Insurance Companies In Nigeria: 1983 - 1984, Central Bank Of Nigeria Cbn Jun 1986

Activities Of Insurance Companies In Nigeria: 1983 - 1984, Central Bank Of Nigeria Cbn

Economic and Financial Review

This report contains an analysis of data extracted from the returns lodged with the Federal Ministry of Finance by insurance companies operating in Nigeria during 1983-1984. In 1983 and 1984 about 92.9 and 98.9 per cent of the existing companies had filed their returns at the time the survey was conducted. Estimates were made for non-response in order to provide a basis for consolidating for the entire insurance industry. The report is divided into five parts: namely, the structure and performance of the insurance industry, life insurance business, non-life insurance business, assets and investment pattern of insurance companies; summary and …


An Appraisal Of Public Sector Financing Of Agricultural Development In Africa With Particular Reference To Nigeria, J. O. Osakwe, M. O. Ojo Jun 1986

An Appraisal Of Public Sector Financing Of Agricultural Development In Africa With Particular Reference To Nigeria, J. O. Osakwe, M. O. Ojo

Economic and Financial Review

The paper discusses, largely using Nigeria as a case study, three sets of issues relating to public sector role in agricultural financing. First, it takes an overview of the agricultural situation in African countries in general and in Nigeria in particular in the last twenty years and suggests the critical factors that should guide government activities for agricultural financing in the light of the general structure of agricultural production. Second, it identifies the types and magnitudes of government assistance in agricultural financing in Nigeria and finally it discusses some of the main problems surrounding the efforts of the government in …


Developments In The World Commodity Markets During The Second Quarter Of 1986, Central Bank Of Nigeria Cbn Jun 1986

Developments In The World Commodity Markets During The Second Quarter Of 1986, Central Bank Of Nigeria Cbn

Economic and Financial Review

All the items, except rubber and ginger, recorded price declines ranging from 0.6 per cent for coffee to 34.1 per cent for palm kernel. The prices of rubber and ginger increased by 4.3 and I. 7 per cent, respectively. The major factor responsible for the deterioration was the effect of failure to reach positive agreement on most of the international commodity organisations, particularly in respect of cocoa. Other factors which helped to depress the market included the sharp decline in oil prices which reduced the purchasing power of affected countries, appreciable gains by the pound sterling over the US dollar …


The Impact Of River Basin Development Authorities On Nigerian Agriculture: A Case Study Of Niger River Basin Development Authority, E. D. Balogun, E. U. Ukeje Jun 1986

The Impact Of River Basin Development Authorities On Nigerian Agriculture: A Case Study Of Niger River Basin Development Authority, E. D. Balogun, E. U. Ukeje

Economic and Financial Review

The paper traced the history of water resource development in Nigeria, and assessed the impact of the Niger River Basin Development Authority (NRBDA) on crop production in the region. The analysis of available data showed that although the NRBDA's activities resulted in improvements in crop yields, and farm incomes of beneficiaries, the impact on regional output and area cultivated was marginal since it accrued to only very few farmers. Moreover, the cost of generating such increments was outrageously high when compared to the incremental costs incurred by alternative development institutions in respect of similar activities. The NRBDA was not without …


Developments In Nigeria's External Sector During The Second Quarter Of 1986, Central Bank Of Nigeria Cbn Jun 1986

Developments In Nigeria's External Sector During The Second Quarter Of 1986, Central Bank Of Nigeria Cbn

Economic and Financial Review

Developments in Nigeria's external sector during the second quarter of 1986 continued to be a cause of concern. The foreign exchange position worsened compared with the preceding quarter's as the price of crude petroleum - Nigeria's major foreign exchange earner - fell farther in the world oil market. Faced with dwindling foreign exchange resources and increasing inability to meet current commitments, a formal approach was made to Nigeria's external creditors late in March to reschedule part of the long and medium term debt falling due for payment. Although no agreement was reached, the commercial banks grouped under the London Club …


Lessons From Nigeria's Recent Monetary And Fiscal Policy Experience, G. O. Okah Jun 1986

Lessons From Nigeria's Recent Monetary And Fiscal Policy Experience, G. O. Okah

Economic and Financial Review

The paper examined, together, the impact of monetary and fiscal policy measures with a view to judging the actual results against the stated policy objectives. The purpose of such exercise would be to provide some basis for drawing useful lessons which will serve as a guide for future design of macro-economic management and control strategies that are more relevant to the Nigerian economic environment. To do this, one needs some form of discussion framework as is done in Part I of this paper. In Part II recent policy objectives and the measures taken to pursue those objectives are summarised. An …


Problems Of Monetary And Financial Integration In Ecowas, S. E. Omoruyi Jun 1986

Problems Of Monetary And Financial Integration In Ecowas, S. E. Omoruyi

Economic and Financial Review

The paper examines the problems of monetary and financial integration in the ECOWAS sub-region. It traces the origins of these problems to the post-colonial era when sentimental attachment to issues of sovereignty, development of national currencies and the imposition of payments restrictions took their roots. Given the background of these problems, the paper makes a number of recommendations, such as the need to adopt a common currency and more realistic exchange rates, for forging greater monetary co-operation in the sub-region.


Problems Of Measuring Unemployment In Nigeria, H. A. Ajani, H. N. Okonta Jun 1986

Problems Of Measuring Unemployment In Nigeria, H. A. Ajani, H. N. Okonta

Economic and Financial Review

Much as unemployment is dreaded in all market economies, the problems associated with its measurement in Nigeria are sometimes not addressed, if ever appreciated. To facilitate international comparison, uniform measurement methods have considerably narrowed down the difference in the concept of unemployment. Nevertheless, unemployment index seems to disguise the extent of the problem in Nigeria. Unless the desire to work for a wage is explicitly expressed, it is difficult to identify the unemployed. In other words, if the job-seeker is regarded as someone actively seeking wage employment, the concept of unemployment becomes less relevant in the context of a developing …


Report On Price Indices Of Ordinary Shares Quoted On The Nigerian Stock Exchange (Nse) For The Second Quarter Of 1986, Central Bank Of Nigeria Cbn Jun 1986

Report On Price Indices Of Ordinary Shares Quoted On The Nigerian Stock Exchange (Nse) For The Second Quarter Of 1986, Central Bank Of Nigeria Cbn

Economic and Financial Review

This report highlights developments in share trading on the Nigerian Stock Exchange during the second quarter of 1986. Accordingly, Section I discusses the volume of transactions in equity trading, while Section II focusses on the sectoral and sub-sectoral price indices.' Fluctuations in actual prices are treated in Section III, while Section IV summarises the report.


Report On Retail Price Indices Of Selected Consumer Items In The Lagos Area - Second Quarter, 1986, Central Bank Of Nigeria Cbn Jun 1986

Report On Retail Price Indices Of Selected Consumer Items In The Lagos Area - Second Quarter, 1986, Central Bank Of Nigeria Cbn

Economic and Financial Review

This report highlights the results obtained from the bi-monthly survey of selected consumer items, carried out in the Lagos area during the second quarter of 1986. Accordingly, Section 1 discusses the retail price indices of the selected -commodities, while Section II focusses on inter-market price variations. Section III summarises the report and suggests some measures to check excessive high prices.


Unemployment And Economic Development In Nigeria - Analysis And Policy Implications, E. O. Akinnifesi Jun 1986

Unemployment And Economic Development In Nigeria - Analysis And Policy Implications, E. O. Akinnifesi

Economic and Financial Review

This paper discusses the dynamics of the unemployment problem within the development perspective of a post-independent Nigeria. It is argued that while successive governments seemed to have recognised the problem, the solutions so far adopted have resulted in mere palliatives. Several factors accounting for unemployment have included: colonialism and the white-collar job syndrome, choice of technique in industries, structure of economic organisation, migration patterns, urbanisation, population growth, educational structure, and business cycles. Of the possible consequences of unemployment, the study highlights those having social, health, political and economic dimensions such as stress, suicide, parasuicide, armed robbery, coup d'etats, inflation, etc. …


Statistical Section (June 1986), Central Bank Of Nigeria Cbn Jun 1986

Statistical Section (June 1986), Central Bank Of Nigeria Cbn

Economic and Financial Review

This is a statistical representation of economic activities in Nigeria in June 1986


The Private Sector And Nigeria's Agricultural Development By Adeniyi Osuntogun And Rex Uzo Ugorji (Eds.): Book Review, Grace O. Evbuomwan Mar 1986

The Private Sector And Nigeria's Agricultural Development By Adeniyi Osuntogun And Rex Uzo Ugorji (Eds.): Book Review, Grace O. Evbuomwan

Economic and Financial Review

This book is a collection of twenty-six (26) papers presented at the First National Seminar on "The Role of the Private Sector in Nigerian Agriculture", organised by the Agricultural and Rural Management Training Institute, Ilorin in October, 1983. This book can be said to be a very useful volume. This is because it contains information which will be useful to both the public and private sectors particularly at this critical period of renewed emphasis on agricultural development and efforts by government to get the private sector to be more involved in the development of the agricultural sector. Book Details: Osuntogun, …


Promoting Money Market Development In Nigeria (1960-1985), B. C. Onyido Mar 1986

Promoting Money Market Development In Nigeria (1960-1985), B. C. Onyido

Economic and Financial Review

This article reviews arguments on the part of the monetary authorities to promote a money market in Nigeria. It discusses conceptual issues of definition, structure and role of the market, idealising the working of the system under normal conditions. An examination of the evolution of the market in Nigeria is also carried out with a view to ascertaining the extent to which it approximates reality. In the process, both successes and failures of the market are highlighted. The study ends with suggestions as to how the scope of the market could be enlarged to enable it to meet the economic …


Specification And Estimation Of Demand And Supply Functions Of Commercial Banks' Loans And Advances In Nigeria: 1961 €“ 1983: Comments, F O. Oresotu Mar 1986

Specification And Estimation Of Demand And Supply Functions Of Commercial Banks' Loans And Advances In Nigeria: 1961 €“ 1983: Comments, F O. Oresotu

Economic and Financial Review

The main objective of the paper, according to the author, is to specify and estimate the demand and supply functions of commercial banks loans and advances "with a view to identifying those factors that influence both variables in Nigeria." The study's conclusion is also very crucial. All economic variables theoretically justified as explanatory variables of the demand and supply functions are not supported by the study as appropriate explanatory variables. The study thus negates all theoretical claims without any suggestion of what variables should explain these important dependent variables.


Specification And Estimation Of Demand And Supply Functions Of Commercial Banks' Loans And Advances In Nigeria: 1961-1983, C.N O. Mordi . Mar 1986

Specification And Estimation Of Demand And Supply Functions Of Commercial Banks' Loans And Advances In Nigeria: 1961-1983, C.N O. Mordi .

Economic and Financial Review

This study attempts to analyse commercial banks' portfolio behaviour as well as the public's desire for credit. It does so by specifying and estimating the demand and supply functions of commercial banks' loans and advances in Nigeria Over the period 1961-1983. The purpose is to provide an insight into those factors that determine both the demand for and supply of loans and advances in Nigeria. It proceeded to specify and estimate equations taking due cognisance of the institutional setting of the Nigerian economy and the whole gamut of policy instruments that the monetary authority usually employs to control commercial banks' …


Independence Of Monetary Management And Exchange Rate Regimes: Evidence From Nigeria, 1961 €“ 1982: Comments, E. Olulana Akinnifesi Mar 1986

Independence Of Monetary Management And Exchange Rate Regimes: Evidence From Nigeria, 1961 €“ 1982: Comments, E. Olulana Akinnifesi

Economic and Financial Review

The following comments are based on Mr. Asogu's paper titled as above and which appeared in the December 1985 edition of the Economic and Financial Review. The objective of the study is" to use the monetary approach to the balance of payments (MABOP) and exchange rate theory of an open economy to determine the existence and significance of the links and relationships among macro-economic variables which are regularly applied in monetary management of both the domestic and external sectors". The author hoped that through this procedure he could "provide a basis for rethinking about the adequacy or otherwise of current …


Perspectives Of Economic Policy And Solution To Unemployment Problem In Nigeria, N. E. Ogbe Mar 1986

Perspectives Of Economic Policy And Solution To Unemployment Problem In Nigeria, N. E. Ogbe

Economic and Financial Review

The paper undertakes a survey of monetary, fiscal and other policies embarked upon partly to reduce the unemployment problem in Nigeria since the early 1970s, and found that though these policies were generally in the right direction, they were poorly implemented, resulting in only marginal expansion of output and employment. In order to achieve sustained economic growth which will favourably enhance the employment situation, the paper suggests a bold restructuring of the economy, particularly with regard to increasing its foreign exchange earning capacity. The paper also stresses the need to check rapid population growth, reorientate manpower development programmes to avoid …