Investor Presentaiton
Table 4.5.2: Balance of Payments and External Debt (in US$, unless otherwise
indicated)
2000
2004
2005
2006
Exports (FOB)
19,132
34,766
55,144
59,144
2007
65,133
(%) chg
2004-07
2008
87.30
76,277
Price of Nigerian oil (US$/barrel)
28.42
38.30
55.30
65.30
73.00
90.60
97.70
Imports (FOB)
8,717
15,009
17,288
31,113
31,948
112.80
44,880
Trade Balance
10,415
19,757
37,856
28,031
33,185
68.00
31,397
Terms-of-Trade (%)'
20.40
38.00
18.00
13.60
42.20
Current Account Balance
7,429
16,840
24,202
13,796
21,972
30.50
Current Account (%) of GDP
15.10
19.10
21.50
9.50
13.20
Gross International Reserves
9,911
16,956
28,280
42,229
51,334
202.70
52,900
Import-coverage2
13.50
7.50
9.80
12.50
12.50
Central Bank's Foreign Assets
10,730
18,653
27,713
43,663
53,053
184.40
65,413"
Deposits in OECD-based Bank
6,616
12,479
18,327
34,773
36,849
195.30
37,665**
FDI inflows3
1,140
2,127
4,978
13,956
12,454
485.50
8,500***
Total External Debt
34,134
35,900
20,500
3,500
3,300
-91.00
3,700
Debt Stock (%) of GDP
69.70
40.80
18.20
2.40
2.00
1.70
Debt (%) of merchandise exports
178.40
103.20
37.10
6.00
5.00
4.80
Key: 'Annual percent change in 'Terms-of-Trade' (the ratio of export to import
prices). Gross forex reserves in months of imports of goods and services. ³Net
flows of foreign direct investment, after repatriation of interest and profits. FDI 2007
inward stock: US$62,791 mn, up from US$23,786mn in 2000. *End-Sep; "End-June;
***As of August 2008; Figures for 08 exports/imports are estimates.
Sources: The International Financial Statistics, Bank for International Settlements,
UNCTAD World Investment Report and Economist Intelligence Unit.
4.6
PORTFOLIO INVESTMENT
BusinessDay reported that Nigeria leads major global equity market in returns
on investment. Opportunities abound for international portfolio investors to reap
huge returns from Nigeria as the local equity market paid the highest returns on
investment among major global Stock market including the US, UK and Russia.
A study by Afrinvest West Africa Ltd. and Standard and Poors shows that as at
November, 2007 returns from the Nigeria Market was the highest among African
and Middle East emerging market with the exception of Zimbabwe. The report
indicated that investors made 63.3 percent from the Nigerian market behind
Zimbabwe that is driven by hyperinflation with 93.4 percent and China 82.1
percent although the Nigerian notched up to 74.7 percent by year end of 2007.
other countries rating are Brazil 41 percent, Russia 6.5 percent, India 47.8 percent
Egypt 39.7 percent South Africa 21.6 percent.
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