The aggregate foreign exchange (forex) inflow into the Nigerian economy in the first quarter of 2017 has been estimated at US$15 billion.

This, however, represented a decline of 9.2 per cent below the level in the fourth quarter of 2016, but showed an increase of 1.4 per cent over the level at the end of the corresponding period of 2016.

The Central Bank of Nigeria (CBN) disclosed this in its first quarter 2017 economic report that was posted on its website.

It explained that the development was driven by the fall in receipts from both the central bank and autonomous sources. Oil sector receipts, which accounted for 15.9 per cent of the total, stood at US$2.38 billion, compared with US$1.97 billion and US$2.48 billion, recorded in the fourth quarter of 2016 and the corresponding period of 2016, respectively.

However, non-oil public sector inflow, at US$4.21 billion (28.1 per cent of the total), fell by 11.6 per cent, compared with the level at the end of the fourth quarter of 2016, but showed an increase of 188.4 per cent above the level at the end of the corresponding period of 2016. Also, autonomous inflow, which accounted for 56.1 per cent of the total, fell by 14.1 per cent, compared with the level in the fourth quarter of 2016.

The report indicated that the performance of the external sector in the first quarter of 2017, improved with an overall balance of payments surplus equivalent to 3.1 per cent of gross domestic product (GDP), compared with 0.6 per cent in the corresponding period of 2016.

This was influenced by improvements in the price of crude oil following the decision by the Organisationof Petroleum Exporting Countries (OPEC) to curtail supply. Consequently, provisional data showed that foreign exchange inflow and ouflow through the CBN in the first quarter of 2017 were US$6.60 billion and US$3.65 billion, respectively. This resulted in a net inflow of US$2.95 billion, in contrast to the net outflow of US$0.54 billion in the fourth quarter of 2016. Inflow declined by 1.9 per cent relative to the level at the end of the fourth quarter of 2016, but rose by 67.3 per cent relative to the level in the corresponding period of 2016.

http://investorsking.com/nigerias-forex-inflow-hits-15bn-first-quarter/

WAKE ME D DAY DOLLAR COMES DOWN TO 200.... i Regard this as Apc current manifesto which is lies/propaganda

we need to feel the impact before we celebrate this

Waiting for when the cabal would bring baq Buhari as said by Sahara reporters

How is this an achievement?

It was $33.02bn first quarter of 2016

The law makers in Abuja ( saraki and co Nigeria limited ) and those in presidency will be very happy with this news, to them it means more money to be re-looted. While the jobless nairalanders will be left with false hope that the country is getting better.
Nigeria is owned by the Elites, who are not up to 1% of the population but happens to comes from different region in the country with a single goal to loot and reloot anything lootable.

That is not money for Christ's sake. More than that enters UAE every week. Are you guys nuts _?

Really?? And you guys are happy!! Shame..,

so finally, is dis a good news to we d citizens?

Hmm

So what are the implications

Hit should used when u achieved a new land mark. What am I saying for this govt its a landmark since every other indices released have always be negative even though its 9percent lower than previous years

Justice Abdulaziz Anka awarded the punitive cost against him for failure to appear in court. He had, on behalf of his client, filed a N300 million fundamental rights enforcement action against the Inspector-General of Police (IGP).
A Lagos Federal High Court yesterday awarded N20, 000 against Olukoya Ogungbeje, counsel to Chukwudumeme Onwuamadike, also known as Evans, who has been arrested and charged for kidnapping for failing to come to court.
A vacation judge, Abdulaziz Anka, who awarded the sum also cautioned Ogungbeje to desist from acts unbecoming of a legal practitioner.
He awarded the punitive cost against him for failure to appear in court. He had, on behalf of his client, filed a N300 million fundamental rights enforcement action against the Inspector-General of Police (IGP).
But instead of appearing yesterday, Ogungbeje wrote to the judge requesting for an adjournment because he was sick and needed to treat himself.
Angered by the situation, Justice Anka awarded N20, 000 against him for what he described as unprofessional conduct.
He also failed to send a copy of the letter to the police counsel, Emmanuel Eze.
“It is unprofessional for a lawyer to communicate with a judge without carrying the other parties along,” he said and thereafter adjourned the matter to July 20, 2017 for further hearing.

But we can't see the effect. All the recovered loots and Paris whatever funds are just news pleasing to the ears but we still cannot see any reasonable changes. The govt is still borrowing here and there and not doing anything we can see with the borrowed funds.

NwaAmaikpe:


How is this an achievement?

It was $33.02bn first quarter of 2016

pls read the second paragraph and comprehend

Forest inflow hits $15bn In First Quarter.

Is only God that will help us in this country.

Still hoping for the dollar to go below ₦200

GH₵

telim:
The law makers in Abuja ( saraki and co Nigeria limited ) and those in presidency will be very happy with this news, to them it means more money to be re-looted. While the jobless nairalanders will be left with false hope that the country is getting better.
Nigeria is owned by the Elites, who are not up to 1% of the population but happens to comes from different region in the country with a single goal to loot and reloot anything lootable.

Bro just goan edit that post before they come for you. It implies the total inflow for 3 months from different sources not bulk money for someone to loot....

Try de read before you comment you hear?

Well, until I can pay for goods on Ali express, and services on Google with my UBA card as I used to, all is immaterial.

I just hop we feel d impact