Monthly Archives: August 2022

Fixed Income 101: A cursory look at the Repo market in Nigeria

I have the privilege of bringing a guest post this week from one of our readers and a trader in one of Nigeria’s leading fixed income dealing firms. If you’d like to write something featured here you can drop us a message via eco215wordpress@outlook.com Repurchase agreement, or ‘repos’ are a silent but important part of […]

Nigeria Fixed Income Weekly

Inflation hits 17-year high, Economy muddles along, CBN takes steps towards orthodoxy, DMO surrenders, Naira on the ropes The Week that Was (August 15-26) Nigeria’s economy expands over Q2 2022, oil now only 6% of the economy: The National Bureau of Statistics (NBS) put out economic data for the second quarter which showed that Nigeria’s […]

Nigeria – Fixed Income Weekly

Trade balance improves, capital flows remain weak, another smooth NT-bill auction and bond market bearish remain in charge The Week that Was (August 8-12) Merchandise trade account moves into green in H1 2022: Updated CBN trade data through June 2022 showed that Nigeria’s external goods account moved into positive territory (USD5.6billion) vs a deficit of […]

Nigeria Fixed Income Weekly

The Week that Was (August 1-5) Oil production slips, CBN Ways & Means rises to NGN20trillion, Rates maintain upward drift and Naira pares losses. Oil production reverses recent gains in July, changing output mix highlights fiscal revenue and FX related headaches:  In a reverse from the pick-up recorded over June, data from the Nigerian Upstream […]

Nigeria – Fixed Income Weekly

The Week that Was (July 25-29) Nigeria exhausts ECA balances, another ‘smooth’ NTB auction, Nigerian Eurobonds rally The end of the road for the Excess Crude Account: Nigeria’s finance minister Zainab Ahmed reported that the Excess Crude Account (ECA) balance had dropped from USD35million in January 2022 to USD337k at the end of June 2022 […]