LNG is Nigeria’s second most important export commodity constituting 14% of total export earnings ($6bn). The rise from 5% of exports in 2013 to current levels is because of the decline in total exports from $95bn to $43bn in 2017.
In the fixed income securities market, T-bill yields continue to slide as the FGN redeems maturing bills with the proceeds of the Eurobond issue. The 5 and 10year bonds auction were allotted at marginal rates of 13.7% and 13.98% respectively.
The attached slides contain a snapshot of recent commodity market movements and burning economic issues.
Enjoy your read.