Country Report Nigeria February 2011

Data and charts: Quarterly data

	2008	2009				2010
	4 Qtr	1 Qtr	2 Qtr	3 Qtr	4 Qtr	1 Qtr	2 Qtr	3 Qtr
Prices
Consumer prices (May 2003=100)	133.4	134.6	138.7	145.5	149.0	154.6	158.2	165.1
Consumer prices (% change, year on year)	14.8	13.3	11.5	9.9	11.7	14.9	14.0	13.4
Financial indicators
Exchange rate N:US$ (av)	120.6	146.9	147.8	150.9	150.1	149.9	149.5	n/a
Exchange rate N:US$ (end-period)	132.6	147.2	148.2	148.8	149.6	149.8	148.0	n/a
Lending rate (av; %)	16.0	17.4	18.7	18.4	19.0	18.9	18.5	n/a
Deposit rate (av; %)	12.8	13.9	13.0	13.5	12.8	10.6	6.2	n/a
Money market rate (av; %)	6.7	2.8	3.3	4.5	4.5	2.3	1.7	n/a
M1 (end-period; N bn)	4,678	4,468	4,485	4,334	4,506	4,658	4,680	n/a
M1 (% change, year on year)	50.1	-1.7	3.6	-4.2	-3.7	4.3	4.4	n/a
M2 (end-period; N bn)	8,926	8,766	9,077	9,458	10,214	10,654	10,595	n/a
M2 (% change, year on year)	53.6	9.6	14.2	5.6	14.4	21.5	16.7	n/a
Stockmarket index (NSE all share; end-period; Jan 3rd 1984=100)	31,451	19,825	26,862	22,065	20,827	25,966	25,384	23,051
Stockmarket index (% change, year on year)	-45.8	-68.5	-52.0	-52.3	-33.8	31.0	-5.5	4.5
Sectoral trends
Crude oil production (m barrels/day)a	1.9	1.8	1.8	1.8	2.0	2.0	n/a	n/a
Crude oil production (% change, year on year)	-10.7	-11.8	-2.4	-11.9	2.4	10.1	n/a	n/a
Foreign reserves (US$ m)
Reserves excl gold (end-period)	53,002	47,083	43,463	45,749	44,763	42,972	n/a	n/a
a Excluding condensates.
Sources: Central Bank of Nigeria; Nigeria National Bureau of Statistics; IMF, International Financial Statistics; Direction of Trade Statistics; International Energy Agency, Monthly Oil Market Report; Energy Intelligence Group, Oil Market Intelligence; Bloomberg.

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