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In the third quarter of 2018, the nominal year on year growth rate of Trade stood at 3.78%. This indicates an increase by 3.34% points when compared to the third  quarter of 2017 and 3.79% points higher than the previous quarter.

In nominal terms, Other Services grew by 5.71% (year-on-year) in Q3 2018. This growth rate is higher than the 3.97% growth rate recorded in the same quarter of the previous year and higher than the growth rate of 4.96 % in Q2 2018 by 1.73 % points and 0.75% points respectively.
Nominal GDP growth of the Manufacturing sector in the  third quarter of 2018 was recorded as 32.73% (year-on-year), 22.41% points higher than figures recorded in the corresponding period of 2017 (10.32%) and 13.21% points higher than the preceding quarter figure of 19.52%. Quarter on Quarter growth of the sector is recorded at 14.62%. 

In nominal terms, Public Administration activity expanded by 1.80% in Q3 2018, higher by 0.32% points from the corresponding quarter of 2017 and  by 4.94% points relative to Q2 2018. Quarter-on-Quarter, the sector grew by –3.18%.

The contribution of Education to nominal GDP in Q3 2018 was 2.13%; down from 2.27% estimated in Q3 2017 but up from 1.75% in Q2 2018. Real growth in Education year-on-year stood at -0.42% in Q3 2018; an increase of 0.80% points from the corresponding quarter of 2017 which was estimated at –1.22%. When compared with the previous quarter’s rate of -0.67%, the sector increased by 0.25% points

 In the third quarter of 2018, Agriculture contributed 25.52% to nominal GDP. This figure is higher than the rates recorded for the third quarter of 2017 and higher than the second quarter of 2018 which recorded 24.50% and 18.78% respectively.

The non-oil sector grew by 2.32% in real terms during the reference quarter.  This is higher by 3.08% points compared to the rate recorded same quarter of 2017 and 0.28% point higher than the second quarter of 2018.

The nation in the third quarter of 2018 recorded an average daily oil production of 1.94million barrels per day (mbpd), lower than the daily average production of 2.02mbpd recorded in the same quarter of 2017 by 0.08mbpd but higher than that of the second quarter of 2018 production volume of 1.84mbpd by 0.10mbpd.

The total value of capital importation into Nigeria stood at $ 5,513.55 million in the second quarter of 2018. This was a decrease of 12.53% compared to Q1 2018, but a 207.62% increase compared to the second quarter of 2017.



I&E FX Window

Rate ($/₦) Change (%)
Opening Indicative as @ Tue Feb 05 2019 362.38 -0.03
Closing 362.58 -0.04
High 364.70
Low 360.00
Turnover ($’mm)
Daily 225.60

I&E – Investors’ & Exporters’ FX Window

CBN Official Rate

as @ Mon Feb 04 2019

Rate ($/₦) Change (%)
Closing 306.75 0.00

Ohaneze Ndi Igbo, Northern Elders Forum, Others Endorse Atiku For President –

India’s prime minister has made a big populist push in his final budget before elections, cutting taxes for middle-class voters and giving cash handouts to farmers.

Narendra Modi’s government will also widen its deficit targets and borrow more. Bonds and the rupee fell, while the tax reductions helped to boost stocks.

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