Home Analysis Nigerian non-oil exports amount to N1.09b

Nigerian non-oil exports amount to N1.09b

by Business News Report

Nigerian non-oil export amounted a total of ($269.75) N1.099 billion in the last 10 months (October 1986 – June 1987) according to figures just released by the minister of finance.
According to the statistics, inflows of foreign exchange from autonomous sources amounted to ($777.56 million) N3.100 billion in the period under review of which non-oil export accounted for N1.099 billion.
A breakdown of the non oil sector shows that N32.71 million was recorded for the month of October N58.36m for the month of November and N98.4 million for the month of December.
The statistics further show that N160.96 million came into the autonomous source from non-oil export for the month of January. The month of February recorded an inflow of N193.2 million in foreign exchange. March recorded N161.32 million inflow against the N121.04 million for the month of April. The month of May the statistics revealed has a record of N109.56 million worth of foreign exchange inflow.
The month of June has a record of foreign exchange inflow worth N144.04 million. This give a cumulative of N1.099 billion for the period.

The domiciliary accounts recorded a total lodgement of N580.68 million worth of foreign exchange. A month of analysis shows that N20.44 million N19 million and N57.88 were lodge for the month of October, November and December 1986 respectively.
The months of January, February and March had N98.36 million, N146.88 million and N57.2 million worth of foreign exchange respectively.
For April, May and June the record shows that N60.84 million, N40.96 dn N79.12 million were lodged in the respective months.
On the average N14.6 million worth of foreign exchange was lodged monthly. This financial expert said is encouraging considering the fact that public was apathetic toward the issue initially.

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