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1989

Central Bank of Nigeria

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Developments In The Industrial Sector In The Second Quarter Of 1989, Central Bank Of Nigeria Cbn Jun 1989

Developments In The Industrial Sector In The Second Quarter Of 1989, Central Bank Of Nigeria Cbn

Economic and Financial Review

Aggregate industrial output improved during the second quarter of the year in spite of the problems of high production costs and liquidity constraints. The index of industrial production at 225.6 (1972 = 100) increased by 6.7 and 3.6. per cent over its levels 'in the corresponding quarter of 1988 and the first quarter of 1989, respectively (see table I). Compared with its level in the corresponding quarter of 1988, the rise in industrial output was accounted for by the respective increases of 20.6 and 2.4 per cent in mining and manufacturing output which outweighed the decline of 2.8 per cent …

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Developments In The Retail Prices Of Selected Consumer Items In Lagos Area During The Second Quarter Of 1989, Central Bank Of Nigeria Cbn Jun 1989

Developments In The Retail Prices Of Selected Consumer Items In Lagos Area During The Second Quarter Of 1989, Central Bank Of Nigeria Cbn

Economic and Financial Review

The results obtained from the price surveys of selected consumer items in the Lagos Area during the second quarter of 1989, indicated an upward movement in the prices of most of the items sampled. While some items recorded modest price declines below the level in the first quarter of 1989, these declines were not enough to offset the increases noticed in all the component price indices. Most of the traders interviewed during the surveys attributed the increase in prices mainly to rising costs of production inputs, and transportation as well as excess demand pressures on agricultural commodities.

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Nigeria's External Debt Problems: A Review Of Management Efforts And The Prospects, M. O. Ojo Jun 1989

Nigeria's External Debt Problems: A Review Of Management Efforts And The Prospects, M. O. Ojo

Economic and Financial Review

This article provided the most recent information on efforts being made to reduce Nigeria's huge external debt burden. In order to evaluate such efforts, it discussed both theoretical and practical issues on the international management of the debt crisis. It was observed that the wide gulf between the debtor countries and the creditors, especially the commercial banks has been significantly bridged in the last three years. The article noted that while Nigeria has made commendable progress in reducing her debt burden, a lot more still needs to be done to make the efforts to have the desirable positive impact. More …

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Nigeria's Insurance Industry In 1987, Central Bank Of Nigeria Cbn Jun 1989

Nigeria's Insurance Industry In 1987, Central Bank Of Nigeria Cbn

Economic and Financial Review

Important rughlights of the report include the fact that Insurance business was prosperous in 1987 as the income of insurers rose significantly faster than their expenditures. However, the prosperity affected the companies in the nonlife business more as the premium income of life insurance companies declined sharply in 1987 during which period their expenditure also increased. In terms of ownership, the prosperity accrued mainly to wholly indigenous non-life companies most, as these companies dominated the more lucrative aspects of insurance business in 1987. Another important point in the report is the fact that minimum paid-up capital stipulated in the Insurance …

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Towards A Single Monetary Zone In The Ecowas Sub-Region: A Progress Report, S. E. Omoruyi Jun 1989

Towards A Single Monetary Zone In The Ecowas Sub-Region: A Progress Report, S. E. Omoruyi

Economic and Financial Review

The call for a common currency for the West African sub-region has been considered generally as a veritable vehicle for achieving the primary objective of establishing exchange arrangements for free intra-regional payments. Such arrangements are deemed necessary to promote faster growth of intra-regional trade, and thereby foster economic development in the ECOWAS sub-region. Pursuant to this objective, the Authority of the Heads of State and Government of ECOWAS took a decision that studies be commissioned on the possibility of creating a single monetary zone in ECOWAS sub-region. Following that decision, the Committee of Governors of Central Banks of ECOWAS at …

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Africa's Adjustment And Growth In The 1980s: The World Bank And The Undp; Charles Humphreys And Williams Jaeger & C0., 31pp., March 1989, H. N. Okonta Jun 1989

Africa's Adjustment And Growth In The 1980s: The World Bank And The Undp; Charles Humphreys And Williams Jaeger & C0., 31pp., March 1989, H. N. Okonta

Economic and Financial Review

The paper, "'Africa's Adjustment and Growth in the 1980s" was written by a team led by Charles Humphreys and William Jaeger of the World Bank. They reviewed on Sub-Saharan Africa's economic experience in the 1980s from a new perspective as against that which was generally perceived as one of crisis and decline caused largely by hostile external factors. The paper was divided into six parts. Part one is an overview of the causes that led to the region's current problems. Sections 2, 3 and 4 analytically dis,:uss the developments in trade and commodity prices, the international community's response with more …

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Private Business In Developing Countries: Improved Prospects By Guy P. Pfeffermann, M. Ajayi Jun 1989

Private Business In Developing Countries: Improved Prospects By Guy P. Pfeffermann, M. Ajayi

Economic and Financial Review

The paper is divided into five sections as follows: Background. Growth prospects, Prospects for the Private sector in Developing countries. Privatisation, and Foreign Direct Investment. The background section appraised some of the economic policies pursued and developments in developing countries in the last 2 decades. The section emphasised the existence of interdependence of the effect of economic policies and conditions of the developed and developing countries. For instance, the author stressed that the recent slow-down of growth in IJie developing countries has been one of the factors holding back the growth of output in the OECD countries.

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The Evolution Of The Nigerian Financial System: Problems, Challenges And Prospects, Ben A. Oke Jun 1989

The Evolution Of The Nigerian Financial System: Problems, Challenges And Prospects, Ben A. Oke

Economic and Financial Review

The paper reviews the evolution of the Nigerian financial system and articulates some of its current problems and challenges for the future, especially in the light of the liberalised trade and exchange regime initiated under the Structural Adjustment Programme (SAP). The paper examines the evolution of the major institutions in the financial system in the context of the changing pattern of economic and regulatory environment in which they operate. It observes that the financial system has undergone substantial changes since 1960 in terms of number and variety of financial intermediaries, the depth and breadth of instruments, as well as the …

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Developments In The Financial System During The Second Quarter Of 1989, Central Bank Of Nigeria Cbn Jun 1989

Developments In The Financial System During The Second Quarter Of 1989, Central Bank Of Nigeria Cbn

Economic and Financial Review

The financial system was under intense pressure in the second quarter of 1989 following the measures adopted by the monetary authorities to reduce the liquidity of the banking system and thereby combat the inflationary pressure in the economy and continued depreciation of the Naira exchange rate. The gradual strengthening of the squeeze on liquidity was accompanied by liquidity crisis among some banks towards the end of the quarter.

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Statistics (June 1989), Central Bank Of Nigeria Cbn Jun 1989

Statistics (June 1989), Central Bank Of Nigeria Cbn

Economic and Financial Review

This a statistical representation of the economic activities in Nigeria in June 1989

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