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Developments In The Agricultural Sector During The Second Quarter Of 1989, Central Bank Of Nigeria Cbn
Developments In The Agricultural Sector During The Second Quarter Of 1989, Central Bank Of Nigeria Cbn
Economic and Financial Review
There was a renewed optimism during the quarter that substantial growth in output could occur during the year, if the improvement in weather conditions and production environment was sustained. Available data showed that average monthly rainfall during the quarter was 177.53mm, representing a substantial rise over the 15 .4mm of the preceding quarter (which experienced an unusually prolonged dry spell) and about 18.3 per cent over the level of 150.1mm in the corresponding period of 1988. The distribution pattern showed that all the states of the Federation recorded rains during the quarter.
Developments In The Industrial Sector In The Second Quarter Of 1989, Central Bank Of Nigeria Cbn
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 …
Stock Market Report For The Second Quarter Of 1989, Central Bank Of Nigeria Cbn
Stock Market Report For The Second Quarter Of 1989, Central Bank Of Nigeria Cbn
Economic and Financial Review
The main event that dominated the transactions on the Nigerian Stock Exchange during the second quarter, 1989 was the compulsory transfer of the accounts of ministries and parastatals from the commercial and merchant banks to the CBN. In an attempt to raise their liquidity positions the banks and other private holders of Federal Government Development Stocks unloaded their holdings of the stocks on the Exchange. Consequently, the total volume of stocks traded rose from 14.9 million in 6558 deals during the first quarter of 1989 to 270.9 million in 8307 deals in the quarter under review. Compared with the corresponding …
Developments In The External Sector During The Second Quarter Of 1989, Central Bank Of Nigeria Cbn
Developments In The External Sector During The Second Quarter Of 1989, Central Bank Of Nigeria Cbn
Economic and Financial Review
The pressure on the external sector eased considerably in the second quarter of 1989 as foreign exchange flows into. and out of the economy indicated a turn around from a net outflow of 'fijl .7 million in the second quarter of 1988 to a net inflow of $245 .0 million. The improvement was attributed to increased earnings by the oil sector due to the rise in crude oil prices and export volume, increased drawings on external loans, decline in debt service and reduced funding of the foreign exchange market. However, the position represented a deterioration when compared with the net …