“The new FX Window introduced by the CBN in April 2017 now sees an average of $1 billion in weekly turnover, and has attracted about 45 billion dollars in inflows in its first year, signalling rising investor confidence in Nigeria

Nigeria’s Stock Market ended 2017 as one of the best-performing in the world, with returns of about 40 percent,” it said.

five million new taxpayers were added to the tax base since 2016, as part of efforts to diversify government revenue.

tax revenue increased to N1.17 trillion in the first quarter 2018, a 51 per cent increase on the first quarter 2017 figure

N 12.7 trillion was spent on infrastructure in the 2016 and 2017 budgets, “an unprecedented allocation in Nigeria’s recent history.”

the revitalisation of 14 moribund blending plants under the Presidential Fertilizer Initiative, and the tripling of revenue to the Federation Account from solid minerals.

the revenue tripled from N700 million in 2015 to N2 billion in 2016, and again rose to N3.5 billion in 2017.

its Economic Recovery and Growth Plan (ERGP), which was launched by Mr Buhari in April 2017, has stabilised the macroeconomic environment; achieved agricultural and food security and has also ensured energy efficiency especially in power and petroleum products.

the ERGP has improved transportation infrastructure and industrialisation primarily through the Small and Medium Enterprises (SMEs)

In the area of debt management, the document reveals that government adopted a strategy that seeks to achieve its goal by replacing Treasury Bills borrowing with lower-cost, longer-term external financing (via Eurobonds and Concessional Loans from China)


“The Buhari Administration inherited N12.1 trillion in debt, with N5.4 trillion annual servicing cost, and had reduced the debt service on this inherited debt to N3.9 trillion by 2016,”

Under the Bond Issuance programme, the government said $7.3 billion was issued in Eurobond in 2017/18, to fund the 2017 Budget as well as to refinance maturing treasury bills and lower the cost of borrowing for the government.

“This debt refinancing strategy is paying off as treasury bill rates have dropped from 16-18% to 10-12% over the last year.

Other economic related achievements include the Anchor Borrowers Scheme of the Central Bank of Nigeria which, it said, has substantially raised local production of rice in 2016.


“Over N300 billion investments in the rice value chain. Between 2016 and 2018, eight new rice mills have come on-stream; and Nigeria’s paddy production and productivity has doubled compared to 2014 levels

The administration said it has launched a series of funding and capacity development initiatives designed to support small and medium businesses (MSMEs) across the country.