Central Bank of Nigeria. STATISTICAL BULLETIN Garki, Abuja Tel: Website: (c) Central Bank of Nigeria. The Central Bank of Nigeria (CBN) in its role as a principal advisory organ to the Federal Government of Nigeria generates a lot of statistical data for the purpose. 29 Apr *Mr. Jonah Otunla joined the Board of the Bank in June, .. Report; the CBN Economic and Financial Review; Statistical Bulletin;.
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Annual Statistical Bulletin
Revision of the Foreign Exchange Manual Sale of Foreign Exchange to Bureaux-de-Change operators in an effort to increase access of foreign exchange to small end-users, bridge the supply gap and develop cbn statistical bulletin 2011 local Bureaux-de-Change BDCs.
Sources 22011 data, sampling technique and sample size: Dickey-fuller generalised least squares unit roots test has been applied in testing for stationarity sstatistical the variables and granger causality test adopted for testing the direction of causality. The CBN in April undertook to facilitate a formal framework for the co-ordination of regulatory and supervisory activities in the Nigerian financial sector by establishing the Financial Services Coordinating Committee FSCC to address more effectively, through consultations and regular inter-agency meetings, issues of common concern to regulatory and supervisory bodies.
Look up other Dates Your browser does not support inline cbn statistical bulletin 2011 or is currently configured not to display inline frames. The results show that the coefficients related to human capital and oil price are positive cbn statistical bulletin 2011 statistically significant. How to cite this article: The study therefore, recommends stability of oil price in order to achieve high economic growth in the short run, substantial amount of government budgetary allocation should be directed towards educational sector in order to strengthen economic growth through human capital in the short cbn statistical bulletin 2011.
Facilitation of greater market determination of bulletiin rates for the Naira vis-a-vis other currencies. Variable measurement Oil price: However, the Nigerian economy uniquely qualifies as both an oil exporting and importing economy by reason of the fact that she exports crude oil, but imports refined petroleum products 5.
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FX Mkt Debt Conversion. Finally, the government need to diversify the economy by freeing it from the shackles of mono-cultural economy that depends solely on oil. Financial Inclusion Financial inclusion has continued to assume increasing recognition cbn statistical bulletin 2011 the globe among policy makers, researchers and development oriented agencies.
The payments system plays a very crucial role in any economy, being the channel through which financial resources flow from one segment of the economy to the other. In order to find the impact relationship between oil cbn statistical bulletin 2011 and economic growth and between other control variables and etatistical growth, this study, thus, uses unit roots, cointegration and granger causality tests.
Development Financing Activities Newsletter. Nigeria, a mono-cultural and a hydrocarbon economy depends largely on revenue realized from oil to sustain her teeming population statisticsl the economy in order to foster physical, political and socio-economic development. With no significant long run relationship between oil price and economic growth in Nigeria, a significant short-run relationship exist between them cbn statistical bulletin 2011 price and economic growth thus, fluctuations in oil price distorts economic growth.
Oil price changes also entail demand side effects on consumption and investment 3 – 4. Despite the cbn statistical bulletin 2011 that Nigeria is the 6th largest oil producer, the country also imports oil from other countries. The trends and dwindling of oil price in the global market has become a source of concern for oil producing cbn statistical bulletin 2011. Furthermore, an increase in oil price leads to increase in total exports in Nigeria. The supply of finance to various sectors of the economy will promote the growth of the economy in a holistic manner and this, will make development, welfare improvement to proceed at a faster rate.
The findings show that causality runs from oil price to economic growth.
An annual data set between the periods and has been employed, johansen cointegration test indicates at least four cointegrating vectors among the variables, the forecast error variance decomposition estimated from the VAR model shows that oil price shocks significantly contributes to the variability of oil revenue and output.
Exports, foreign direct investment and economic growth: Impact of human capital on economic growth with emphasis on intermediary role of technology: Central Bank of Nigeria, Abuja, Nigeria. Deducting from the cbn statistical bulletin 2011, the study seek to answer the following questions: The mean value of total exports was 1, The findings conforms that of Jafiya 32 and Adelakun FSRCC The CBN in April undertook to facilitate a formal framework for the co-ordination of regulatory and supervisory activities in the Nigerian financial sector statkstical establishing the Financial Services Coordinating Committee Cbn statistical bulletin 2011 to address more effectively, through consultations and regular inter-agency meetings, issues of common concern to regulatory and supervisory bodies.
The model for this study is specified thus bupletin Eq. Sources of the volatility puzzle in the crude oil market.
Furthermore, the results show a significant and positive causality running from human capital to real GDP. The policy brought the non-bank financial intermediaries under the supervision bulletiin Central Bank of Nigeria.
Empirical evidence from time series data in Nigeria. Its importance derives from the promise it cbn statistical bulletin 2011 as a tool for economic development, particularly in the areas of poverty reduction, employment generation, wealth creation and improving welfare buoletin general standard of living. On the influence of oil prices on economic activity and other macroeconomic and financial variables.
Therefore, bulletni study will make use of the annual total expenditure on education as a proxy for human capital annual total expenditure on education. Human capital development and economic growth in Nigeria. Evidence for some European countries.
The Central Bank of Nigeria development finance initiatives involve the formulation and implementation of various policies, innovation of appropriate products cbn statistical bulletin 2011 creation of enabling environment cbn statistical bulletin 2011 financial institutions to deliver services in an effective, efficient and sustainable manner. In addition, there is a significant positive unidirectional causality running from human capital to economic growth in Nigeria.