Nov 21 (Lagos) - Real GDP growth of +1.40% in Q3 2017 vs +0.71% (revised from +0.55%) in Q2 2017, driven largely by growth in the oil sector to +25.89% vs +3.53% in Q2 2017, while the non-oil sector contracted by -0.76% in Q3 2017 vs +0.45% in Q2 2017.
This depicts Nigeria’s continued dependency in the oil sector.
Slower-than-expected decline in Consumer Price index with continued food inflationary pressure
Improved functioning of the capital importation window, with turnover of $17.1 billion between April to November 2017
Successful issuance of $1.5 billion 10 year and $1.5 billion 30 year Euro-bond.
With real GDP growth and progress made so far still fragile, a change in the current stance could unsettle these improvements, weighing expectations of analysts at AIICO Capital Ltd to a hold.
reporting for easykobo.com on Tuesday, Nov 21 2017 from Lagos, Nigeria
Source - analysts at AIICO
Capital Ltd in V.I.
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