TABLE 4
OPEN MARKET OPERATIONS
Period
Total Bids
Amount Sold
Average Tenor
Average Yield

(=N='million)
(=N='million)
(Days)
(%)

January
22,381.0

12,331.0

16.7
February
52,577.0

46,577.0

16.8
March
27,840.0

27,840.0

16.8
April
70,861.0

43,699.0

14.9
May
24,169.0

18,019.0

15.6
June
106,585.0

16,955.0

13.0
TOTAL
304,413.0

165,421.0

July
11,820.0

10,720.0

15.9
August
30,955.0

29,070.0

15.2
September
19,872.0

18,872.0

14.9
October
52,303.0

42,153.0

14.8
November
32,306.0

11,686.0

14.4
December
30,928.0

40,178.0

12.8
TOTAL
178,184.0

152,679.0

January
19,611.0

18,411.0

12.8
February
4,852.0

4,852.0

14.0
March
34,223.0

33,723.0

14.9
April
29,409.0

25,809.0

16.3
May
6,457.0

6,350.0

16.5
June
42,251.0

39,400.0

16.5
TOTAL
136,803.0

128,545.0

July
8,568.0

7,518.0

17.8
August
46,267.0

42,267.0

17.8
September
55,723.0

54,423.0

18.2
October
67,827.0

66,077.0

20.0
November
44,057.0

44,057.0

19.5
December
44,057.0

44,057.0

19.8
TOTAL
266,499.0

258,399.0

January
26,066.3

24,966.3

33.3
21.3
February
64,574.7

62,574.7

22.5
March
50,802.0

49,302.0

57.8
23.1
April
37,197.0

36,347.0

22.9
May
82,129.5

76,629.5

47.8
22.2
June
44,320.0

41,420.0

21.0
TOTAL
305,089.5

291,239.5

July
50,350.0

48,250.0

20.32
August
71,304.0

69,204.0

16.81
September
39,790.0

38,640.0

16.16
October
66,130.0

64,830.0

16.11
November
100,794.0

57,024.5

13.8
December
22,800.0

22,800.0

13.0
TOTAL
351,168.0

300,748.5

January
84,187.0

80,887.0

14.2
February
90,054.0

87,544.0

14.3
March
128,659.1

76,525.1

14.8
April
79,678.5

47,303.5

14.1
May
22,517.0

20,617.0

15.3
June/1
86,223.0

84,823.0

15.6
TOTAL
491,318.6

397,699.6

2003 /1
July
135,220.8

134,720.8

15.8
August
76,345.0

76,115.0

9.9
September
107,299.8

72,434.8

13.1
October
12,945.0

12,945.0

13.5
November
19,362.0

19,182.0

14.2
December
82,064.5

81,554.5

14.0
TOTAL
433,237.1

396,952.1

2004 2/
January
135,600.0

133,500.0

14.3
February
107,100.0

103,000.0

14.2
March
85,200.0

76,200.0

14.0
April
62,000.0

62,000.0

14.2
May
66,400.0

66,400.0

14.2
June/1
114,700.0

114,700.0

14.2
TOTAL
571,000.0

555,800.0

1/ Revised
2/ Provisional

2003 /2
2003 /2
2004 /3
1st Half
2nd Half
1st Half
2nd Half
1st Half
2nd Half
1st Half
2nd Half
1st Half
Treasury Bills (Issues)
120,586.1

150,936.2

155,897.0

174,011.9

207,600.0

290,700.0

244,586.7

244,588.3

284,351.5

Subscriber:


Central Bank
35,916.4

25,916.4

73,816.8

102,800.2

71,300.0

67,500.0

54,383.3

61,925.0

62,566.7

Commercial Bank 1/
52,307.9

88,082.1

60,005.1

50,024.2

77,700.0

160,600.0

137,725.0

125,081.7

122,486.7

Merchant Bank
1,216.0

3,173.9


Non-Bank Public
31,145.9

33,763.7

22,075.1

21,187.5

58,600.0

62,500.0

52,478.3

57,580.0

73,291.7

Treasury Certificates (Issues)
-

-

-

-

-

-

-

-

-

Subscriber:


-


Central Bank
-

-

-

-

-

-

-

-

-

Commercial Bank
-

-

-

-

-

-

-

-

-

Merchant Bank
-

-

-

-

-

-

-

-

-

Non-Bank Public
-

-

-

-

-

-

-

-

-

1/ Data represent banks' subscription in line with universal banking which commenced in January 2001.
2/ Revised
3/ Provisional
ISSUES AND SUBSCRIPTIONS OF TREASURY BILLS AND CERTIFICATES
(=N= million)
TABLE 5
JUNE 2000
DEC 2000
JUNE 2001
DEC 2001
JUNE 2002
DEC 2002
JUNE 2003 3/
DEC 2003 3/
JUNE 2004 /4
1.Domestic Credit (net)

(a) Claims on Federal Government (net)

By Central Bank

By Commercial Banks

By Merchant Banks
11,022.7
14,711.1

(b) Claims on Private Sector

By Central Bank

By Commercial Banks

By Merchant Banks

(i) Claims on State and Local Governments

By Central Bank

By Commercial Banks

By Merchant Banks
0.3
57.2

(ii) Claims on Non-Financial Public Enterprises

By Central Bank

By Commercial Banks

By Merchant Banks

(iii) Claims on Other Private Sector

By Central Bank

By Commercial Banks

By Merchant Banks
71,517.1
59,994.2

(2) Foreign Assets (net)

By Central Bank

By Commercial Banks

By Merchant Banks
23,360.1
28,170.0

(3) Other Assets (net)

Total Monetary Assets

Quasi-Money 1/

Money Supply

Currency Outside Banks

Demand Deposits 2/

Total Monetary Liabilities


GROWTH RATE OVER THE PRECEDING DECEMBER (In Percentages)
Credit to the Domestic Economy (net)

Credit to the Private Sector

Claims on Federal Government (net)

By Central Bank

Claims on State and Local Governments

Claims on Non-Financial Public Enterprises

Claims on Other Private Sector

Foreign Assets (net)

Quasi-Money

Money Supply (M1)

Broad Money (M2)

Other Assets (net)

NOTES :
1/. Quasi-Money consists of Time, Savings and Foreign Currency Deposits of Commercial and Merchant Banks excluding Takings from Discount Houses.
2/. Demand Deposits consist of state, local and parastatals deposits at the CBN; state local and private sector deposits as well as demand deposits of
'non-financial public enterprises at Deposit Money Banks (DMBs).
3/. Revised
4/. Provisional
TABLE 6
MONETARY AND CREDIT DEVELOPMENTS
(=N=' Million)
Instrument
JUNE
Dec
JUNE
Dec
JUNE
Dec
JUNE
Dec
JUNE

Treasury Bills

Treasury Certificates

Eligible Development Stocks

Certificates of Deposits

Commercial Papers

Bankers' Acceptances

Total

Growth Rate (%)
Treasury Bills


Treasury Certificates


Eligible Development Stocks


Certificates of Deposits


Commercial Papers


Bankers' Acceptances


Total


,
TABLE 7
VALUE OF MONEY MARKET INSTRUMENTS
(=N=' Million)
TABLE 8
SELECTED INTEREST RATES
(Per cent at End of Period)


June
Dec
Jun
Dec
Jun
Dec
Jun
Dec
JUN

Minimum Rediscount Rate

Treasury Bills Issue Rate

Commercial Banks 1/
Savings Deposit Rate
5.10
4.9
5.2


Time Deposit Rate (3 months)


Prime Lending Rate
20.80
20.6
23.5


Maximum Lending Rate


Merchant Banks 1/

Time Deposit Rate (3 months)
14.10


Prime Lending Rate

Maximum Lending Rate

Inter-bank Rate (End-Period)


1/ Weighted Averages
2/ With the introduction of universal banking in January 2001, data for 2001 represent industry averages for each tenor.
file: HYSIR

% Change
% Change

2003 1/
BUDGET 2004
2004 2/
between
between
1st Half
1st Half
1st Half
1st Half
1st Half
Ist Half
3 & 1
3 & 2
Federally Collected Revenue (Gross)
745.829600

1,131.66

865.17

1,211.39

1,516.64

1,748.86

44.37

15.31

Oil Revenue (Gross)
632.419400

950.06

607.29

985.03

1,172.34

1,508.75

53.17

28.70

Exports
403.782500

512.81

289.86

505.75

518.26

790.69

56.34

52.57

PPT , Royalties,rent, etc
175.741000

360.82

183.68

300.38

353.43

516.13

71.82

46.03

Gas Sales
-

23.13

10.69

-

20.40

23.02

12.84

Domestic Crude Oil Sales
43.667900

53.29

120.00

156.85

276.88

176.75

12.68

36.16
-
Open Acreage Allocation Fee
-

-

-

-

-

Other Oil Revenue
9.23

-

3.05

22.05

3.37

2.16


Less:
218.68

446.51

259.44

-

217.60

497.96

128.84

First Charges
218.68

446.51

259.44

-

217.60

497.96

128.84

Oil Revenue (Net)
413.74

503.55

347.85

985.03

954.74

1,010.79

2.61

5.87

Non- Oil Revenue
113.41

181.61

257.88

226.36

344.30

240.11

6.08

30.26
-
Companies Income Tax.
23.23

32.04

37.59

48.76

71.50

57.84

18.63

19.10
-
Customs & Excise Duties.
41.87

74.50

89.60

93.64

109.50

102.77

9.75

6.15
-
Privatisation Proceeds
-

-

-

-

-

Value-Added Tax(VAT)
26.92

43.07

50.51

64.99

80.50

75.57

16.29

6.12
-
Tax on Petroleum Products
12.19

13.79

5.40

-

-

Independent Revenue of Fed. Govt.
6.46

15.62

55.65

18.52

58.80

3.93


Education Tax
2.75

2.01

1.65

0.45

9.00

-

Others
-

0.58

17.48

-

15.00

-

Federally - collected revenue(Net)
527.15

685.15

605.73

1,211.39

1,299.04

1,250.90

3.26

3.71
-
Federation Account Allocation:
569.03

662.44

620.73

1,123.16

1,299.05

1,250.90

11.37

3.71
-
Transfer to AFEM Surplus Account
-

-

-

-

-

-

Transfer to Stabilization Account
31.10

3.77

0.68

-

-

-

Transfer to Federation Reserve Account
13.52

20.36

0.36

-

-

-

Transfer to Federal Govt. Ind. Revnue
6.46

13.25

55.65

18.52

58.80

3.93


Transfer to VAT Pool Account
26.92

43.07

50.51

64.99

80.50

75.57

16.29

6.12
-
Deductions for 13% Derivation
14.63

38.28

36.94

71.72

124.12

119.35

66.42

3.84
-
National Judicial Council
-

7.50

-

-

-

Transfer to Others
31.69

-

31.49

-

24.00

-

Amount Distributed
444.70

536.20

445.10

967.93

1,135.75

1,052.05

8.69

7.37
-
Federal Government
222.78

268.48

221.95

506.04

532.92

554.23

9.52

4.00

State Government
110.24

137.57

117.92

228.77

270.31

281.10

22.87

3.99

Local Government
91.87

109.87

100.14

190.65

208.40

216.72

13.68

3.99

Special Funds
19.82

20.27

5.10

42.47

49.85

26.02


Federal Capital Territory
3.84

5.73

1.36

6.86

8.03

8.68

26.53

8.09

Ecology
7.69

10.33

2.71

10.10

11.82

8.68


Statutory Stabilization
1.92

2.87

0.68

4.94

5.78

4.32


Residual Account
6.36

1.35

0.36

20.57

24.22

4.34


Overall Balance
(41.88)

22.72

15.00
-
88.23

0.01
-
-

Financing
41.88

12.72
-
15.00

-

-

-

Draw-Down from Federation Reserves
-

15.00

-

Draw-Down from Excess Crude/PPT Account
-

-

-

Other Funds
41.88

12.72
-
-

-

Memorandum Items:
First Charges:
218.68

446.51

259.44

142.76

217.60

497.95

248.81

128.84

JVC Cash calls
100.81

195.79

201.79

134.64

217.60

227.90

69.27

4.73

NNPC Priority Projects
4.37

19.02

16.39

-

-

External Debt Service/NJC
50.34

153.33

41.26

-

-

Excess Crude Proceeds & Others
63.16

78.37

-

8.12

270.05

1/ Revised
2/ Provisional
TABLE 9
FEDERATION ACCOUNT OPERATIONS

% Change
% Change

BUDGET 2004

between
between
Item
1st HALF
1ST HALF
1ST HALF
1ST HALF (1)
1st HALF (2)
1st HALF (3)
(3) & (1)
(3) & (2)
Federal Government Retained Revenue
214.88

334.67

284.91

501.41

603.79

574.48

14.57

(4.85)

Statutory Revenue Allocation
204.45

268.48

221.95

471.65

490.63

421.08

(10.72)

(14.18)

Independent Revenue
6.46

11.54

55.65

19.59

58.80

3.93

(79.93)

(93.32)

Share of Value-Added Tax
3.97

6.19

7.31

8.89

11.27

11.34

27.54

0.62

Share of AFEM Surplus
-
-

-

-

-

External Debt Service Funds
-
-

-

-

96.85

FCT and Other Special Funds
-

-

-

-

43.09

36.28

(15.80)

PSTF
-
-

-

-

-

FIRS Tax recovery
-

-

-

-

-

Share of Excess Crude
-

-

-

-

-

Loan recovery from states
-

-

-

0.07

-

Retirement of TBs
-

48.46

-

-

Open acreage allocation fee
-

-

-

-

Others
-

-

-

1.21

5.00

314.63

Total Expenditure
274.82

488.16

404.42

608.81

694.36

711.04

16.79

2.40

Recurrent Expenditure
205.01

304.29

328.88

456.19

497.42

490.30

7.48

(1.43)

Interest Payments
49.33

54.35

86.13

177.91

184.69

180.66

1.55

(2.18)

Foreign
-

-

-

96.79

91.80

96.85

0.06

5.50

Domestic
49.33

54.35

86.13

81.12

92.89

83.81

3.31

(9.78)

Other(Non-Debt)
155.68

249.94

242.75

278.28

312.73

309.64

11.27

(0.99)

-

Capital Expenditure & Net Lending
69.82

183.87

75.54

152.62

196.94

220.74

44.63

12.08

Capital Repayments
-

0.14

7.43

-

-

-

Foreign
-

-

7.43

-

-

Domestic
-

0.14

-

-

-

Other(Non-Debt)
69.82

173.82

59.98

148.67

174.94

198.15

33.28

13.27

Net Lending to States/Others
-

-

-

-

-

National Judicial Council
-

-

-

2.95

15.00

14.20

381.14

(5.33)

Transfer to PSTF
-

-

-

-

-

Transfer to NDDC
-

2.50

6.29

1.00

7.00

7.00

600.00

-

Others
-

9.91

1.84

-

1.39

Balance Of Revenue And Expenditure
Recurrent Balance(Surplus(+)/Deficit(-))
9.87

30.38

(43.97)

45.22

106.37

84.18

86.16

(20.86)

Overall Balance(Deficit(-)/Surplus(+)
(59.95)

(153.49)

(119.51)

(107.40)

(90.57)

(136.56)

27.15

50.78

Financing:
59.95

153.49

119.51

91.17

90.57

136.56

49.78

50.78

Foreign(Net)
-

-

-

Domestic(Net)
48.70

-

42.17

48.40

121.33

150.68

Banking System
48.70

-

42.17

48.40

121.33

150.68

Non Bank Public
-

-

-

-

Excess Crude oil proceeds
-

174.40

36.27

16.00

12.28

Share of Reserve Acct/Looted Funds
-

24.24

36.33

-

Other Funds
11.24

(45.15)

4.74

26.77

90.57

2.95

(88.98)

(96.74)


Memoradum Items:
Primary Balance
(10.62)

(101.50)

(25.96)

73.46

58.30

(20.64)

Government Obligations
3,546.90

4,019.98

4,193.26

-

-

(i) External Debt Outstanding
2,752.28

3,121.73

3,176.29

-

(ii) Internal Debt Outstanding
794.62

898.25

1,016.97

-

1/ Provisional
TABLE 10
FISCAL OPERATIONS OF THE FEDERAL GOVERNMENT
(=N='Billion)
S/N
STATE
Stat. Alloc.
VAT
Total
Stat. Alloc.
VAT
Total
Stat. Alloc.
VAT
Total
1 ABIA
2,348.2

342.0

2,690.2

3,777.4

534.9

4,312.3

3,767.7

1,425.1

5,192.8

2 ADAMAWA
2,584.5

294.2

2,878.7

3,717.5

448.0

4,165.5

3,786.2

526.0

4,312.2

3 AKWA IBOM
5,800.4

301.5

6,101.9

11,826.7

466.5

12,293.2

7,031.2

621.4

7,652.6

4 ANAMBRA
2,520.1

354.0

2,874.1

3,697.3

538.2

4,235.5

3,800.7

625.6

4,426.3

5 BAUCHI
2,695.0

324.6

3,019.6

3,941.9

502.9

4,444.8

4,049.9

595.8

4,645.7

6 BAYELSA
4,652.9

243.2

4,896.1

9,618.6

392.2

10,010.8

6,578.4

465.7

7,044.1

7 BENUE
2,950.1

319.3

3,269.4

4,226.6

493.4

4,720.0

4,267.1

591.6

4,858.7

8 BORNO
3,027.0

314.5

3,341.5

4,336.3

481.0

4,817.3

4,408.4

562.2

4,970.6

9 CROSS RIVER
2,509.3

288.3

2,797.6

3,477.0

430.6

3,907.6

3,473.2

512.9

3,986.1

10 DELTA
7,010.9

426.4

7,437.3

14,987.2

726.1

15,713.3

15,590.1

815.2

16,405.3

11 EBONYI
1,976.4

260.3

2,236.7

3,166.3

401.3

3,567.6

3,377.3

481.9

3,859.2

12 EDO
2,604.5

313.4

2,917.9

3,718.6

483.7

4,202.3

3,651.3

1,315.5

4,966.8

13 EKITI
2,057.3

263.4

2,320.7

2,908.1

407.9

3,316.0

2,931.3

470.2

3,401.5

14 ENUGU
2,195.1

301.1

2,496.2

3,358.9

478.0

3,836.9

3,516.6

563.5

4,080.1

15 GOMBE
2,024.3

289.2

2,313.5

3,003.2

430.7

3,433.9

3,097.6

505.4

3,603.0

16 IMO
2,735.7

309.5

3,045.2

4,445.6

484.8

4,930.4

3,955.4

565.6

4,521.0

17 JIGAWA
2,686.3

314.2

3,000.5

3,790.8

488.8

4,279.6

3,825.6

578.2

4,403.8

18 KADUNA
3,297.7

576.1

3,873.8

4,539.8

742.0

5,281.8

4,530.7

823.0

5,353.7

19 KANO
3,749.7

518.1

4,267.8

5,450.9

788.0

6,238.9

5,607.0

921.7

6,528.7

20 KATSINA
3,202.4

369.7

3,572.1

4,315.4

572.0

4,887.4

4,257.8

679.3

4,937.1

21 KEBBI
2,438.8

286.4

2,725.2

3,531.0

444.9

3,975.9

3,606.0

614.8

4,220.8

22 KOGI
2,478.1

289.5

2,767.6

3,685.3

451.7

4,137.0

3,811.0

524.3

4,335.3

23 KWARA
2,390.9

269.5

2,660.4

3,296.2

432.4

3,728.6

3,296.5

484.8

3,781.3

24 LAGOS
3,714.7

1,690.6

5,405.3

5,147.6

2,903.5

8,051.1

5,158.2

2,811.3

7,969.5

25 NASARAWA
2,082.8

255.8

2,338.6

3,000.3

742.2

3,742.5

3,056.1

1,026.2

4,082.3

26 NIGER
2,951.3

312.4

3,263.7

4,083.3

474.9

4,558.2

4,082.5

552.2

4,634.7

27 OGUN
2,667.4

352.6

3,020.0

3,653.9

538.9

4,192.8

3,631.1

638.0

4,269.1

28 ONDO
3,390.7

299.6

3,690.3

6,078.9

474.8

6,553.7

4,627.9

550.8

5,178.7

29 OSUN
2,469.9

292.5

2,762.4

3,396.8

7,480.6

10,877.4

3,380.7

526.4

3,907.1

30 OYO
3,036.9

410.5

3,447.4

4,284.8

641.0

4,925.8

4,324.6

766.5

5,091.1

31 PLATEAU
2,402.4

302.2

2,704.6

3,452.5

472.9

3,925.4

3,512.9

556.1

4,069.0

32 RIVERS
5,347.6

625.1

5,972.7

10,636.0

863.7

11,499.7

8,528.0

1,019.3

9,547.3

33 SOKOTO
2,535.3

318.9

2,854.2

3,575.7

475.4

4,051.1

3,607.2

574.2

4,181.4

34 TARABA
2,443.8

256.9

2,700.7

3,471.2

403.4

3,874.6

3,512.1

466.7

3,978.8

35 YOBE
2,355.4

254.7

2,610.1

3,577.0

396.2

3,973.2

3,729.5

455.1

4,184.6

36 ZAMFARA
2,257.2

275.6

2,532.8

3,355.3

434.2

3,789.5

3,469.5

518.2

3,987.7

37 FCT/Ondo/Delta Der.
3,876.1

133.3

4,009.4

5,543.6

206.4

5,750.0

3,604.4

854.5

4,458.9

FAAC A/C /1
-

-

-

TOTAL
111,467.1

13,349.1

124,816.2

176,073.5

28,128.1

204,201.6

164,441.7

26,585.2

191,026.9

/1 This is the share of State Governments from the N12.4 billion distributed at the Plenary Session
of the FAAC Meeting in Aprilf, but was not refelected in the FAAC File
Source: Federation Accounts Allocation (FAAC) Committee Files
VAT = Value Added Tax
NOTES:
Stat. Alloc. = Statutory Allocation
1st Half 2000
1st Half 2001
1st Half 2002
TABLE 11
Allocation to State Governments from Federation and VAT Pool Accounts (=N=' Million)
S/N
STATES
Stat. Alloc.
VAT
Total
Stat. Alloc.
VAT
Total
1 ABIA
6,871.3

734.6

7,605.9

8,912.8

891.8

9,804.6

2 ADAMAWA
5,988.8

652.1

6,640.9

7,749.7

827.6

8,577.3

3 AKWA IBOM
14,038.7

1,022.4

15,061.1

25,875.5

1,611.4

27,486.9

4 ANAMBRA
6,011.9

783.7

6,795.5

7,773.1

971.9

8,745.0

5 BAUCHI
6,401.5

742.5

7,144.0

8,438.3

922.6

9,360.9

6 BAYELSA
17,601.3

572.1

18,173.4

28,827.3

695.6

29,522.9

7 BENUE
6,795.9

728.7

7,524.7

8,649.2

898.6

9,547.8

8 BORNO
6,971.9

707.2

7,679.1

8,973.3

875.5

9,848.8

9 CROSS RIVER
6,536.3

637.4

7,173.7

8,796.9

793.7

9,590.6

10 DELTA
28,618.7

1,108.5

29,727.2

35,125.5

1,065.8

36,191.3

11 EBONYI
5,351.6

591.6

5,943.2

6,801.7

721.6

7,523.3

12 EDO
6,247.3

720.1

6,967.4

8,520.3

860.8

9,381.1

13 EKITI
4,645.6

601.7

5,247.3

6,182.7

728.9

6,911.6

14 ENUGU
5,568.3

716.2

6,284.5

7,208.8

928.7

8,137.5

15 GOMBE
4,909.4

630.6

5,540.0

6,448.6

804.5

7,253.1

16 IMO
7,319.4

715.0

8,034.4

9,877.5

883.3

10,760.8

17 JIGAWA
6,050.1

735.5

6,785.6

8,051.5

904.9

8,956.4

18 KADUNA
7,155.7

1,058.8

8,214.5

9,340.5

1,294.3

10,634.8

19 KANO
8,847.3

1,169.1

10,016.3

11,485.0

1,381.4

12,866.4

20 KATSINA
6,726.7

851.6

7,578.3

8,824.4

1,047.8

9,872.2

21 KEBBI
5,706.4

648.0

6,354.4

7,435.0

806.5

8,241.5

22 KOGI
6,030.8

667.7

6,698.6

7,721.4

810.2

8,531.6

23 KWARA
5,230.5

610.6

5,841.1

6,806.2

750.4

7,556.6

24 LAGOS
8,141.0

3,921.7

12,062.7

10,664.3

5,108.9

15,773.2

25 NASARAWA
4,837.4

557.1

5,394.5

6,343.8

694.0

7,037.8

26 NIGER
6,453.0

698.2

7,151.3

8,486.3

862.4

9,348.7

27 OGUN
5,744.9

803.8

6,548.6

7,414.1

933.8

8,347.9

28 ONDO
7,630.7

689.7

8,320.4

11,255.3

849.3

12,104.6

29 OSUN
5,351.1

665.5

6,016.6

6,979.1

819.5

7,798.6

30 OYO
6,838.1

921.5

7,759.6

8,847.4

1,102.4

9,949.8

31 PLATEAU
5,557.2

689.9

6,247.1

7,311.8

841.3

8,153.1

32 RIVERS
24,294.4

1,492.7

25,787.1

27,360.5

1,949.1

29,309.6

33 SOKOTO
5,705.8

719.5

6,425.3

7,584.5

879.1

8,463.6

34 TARABA
5,657.5

593.7

6,251.2

7,281.7

729.1

8,010.8

35 YOBE
5,902.3

576.0

6,478.3

7,507.4

719.0

8,226.4

36 ZAMFARA
5,469.8

657.0

6,126.9

7,241.4

818.6

8,060.0

37 FCT/Ondo/Delta Der.
-

-

-

66.9

-

66.9

FAAC A/C /1
-

4,000.0

4,000.0

TOTAL
283,208.6

30,392.1

313,600.7

382,169.7

37,784.3

419,954.0

/1 This is the share of State Governments from the N12.4 billion distributed at the Plenary Session
of the FAAC Meeting in Aprilf, but was not refelected in the FAAC File
Source: Federation Accounts Allocation (FAAC) Committee Files
VAT = Value Added Tax
NOTES:
Stat. Alloc. = Statutory Allocation
1st Half 2003
1st Half 2004
TABLE 11 Cont'd
Allocation to State Governments from Federation and VAT Pool Accounts (=N=' Million)
S/N
State
LGA
Stat. Alloc.
VAT
Total
Stat. Alloc.
VAT
Total
1 Abia


2 Adamawa


3 Akwa-Ibom


4 Anambra


5 Bauchi


6 Bayelsa


7 Benue


8 Borno


9 Cross-River


10 Delta


11 Ebonyi


12 Edo


13 Ekiti


14 Enugu


15 Gombe


16 Imo


17 Jigawa


18 Kaduna


19 Kano


20 Katsina


21 Kebbi


22 Kogi


23 Kwara


24 Lagos


25 Nassarawa


26 Niger


27 Ogun


28 Ondo


29 Osun


30 Oyo


31 Plateau


32 Rivers


33 Sokoto


34 Taraba


35 Yobe


36 Zamfara


37 FCT Abuja


TOTAL


NOTES:
Stat. Alloc. = Statutory Allocation
VAT = Value Added Tax
LGA = No. of Local Governments
First Half, 1999-2004
1st Half 2000
1st Half 2001
TABLE 12
Allocation to Local Governments from the Federation and Vat Pools Accounts (=N= 'm)
S/N
State
LGA
Stat. Alloc.
VAT
Total
Stat. Alloc.
VAT
Total
Stat. Alloc.
VAT
Total
1 Abia


2 Adamawa


3 Akwa-Ibom


4 Anambra


5 Bauchi


6 Bayelsa


7 Benue


8 Borno


9 Cross-River


10 Delta


11 Ebonyi


12 Edo


13 Ekiti


14 Enugu


15 Gombe


16 Imo


17 Jigawa


18 Kaduna


19 Kano


20 Katsina


21 Kebbi


22 Kogi


23 Kwara


24 Lagos


25 Nassarawa


26 Niger


27 Ogun


28 Ondo


29 Osun


30 Oyo


31 Plateau


32 Rivers


33 Sokoto


34 Taraba


35 Yobe


36 Zamfara


37 FCT Abuja


TOTAL


NOTES:
Stat. Alloc. = Statutory Allocation
VAT = Value Added Tax
LGA = No. of Local Governments
First Half, 1999-2004
1st Half 2002
1st Half 2003
1st Half 2004
TABLE 12 Cont'd
Allocation to Local Governments from the Federation and Vat Pools Accounts (=N= ' Million)

1st Half
1st Half
1st Half
2nd Half
1st Half
2nd Half
1st Half


124.2


84.8
96.3
100.2


GROWTH RATE OVER THE PRECEEDING PERIOD (%)


Manufacturing Index
Mining Index
Electricity
Soybean
Industrial Production Index
(1985=100)
Coffee
Cotton
Palm Oil
Copra
Indices of Average World Prices
(c.i.f) in US$ of Nigeria's Major
All Commodities (1985=100)
Cocoa
Other Crops
Livestock
Fishery
Forestry
Agricultural Production Index
(1984=100)
Crops
Staples
Capacity Utilization Rate (%)
Inflation Rate % ( 12 Month Moving Average)
Inflation Rate % (Year-on-Year)
Manufacturing Index
Mining Index
Electricity
Soyabean
Industrial Production Index
(1985=100)
Coffee
Cotton
Palm Oil
Copra
Indices of Average World Prices
(c.i.f) in US$ of Nigeria's Major
All Commodities (1985=100)
Cocoa
Other Crops
Livestock
Fishery
Forestry
Agricultural Production Index
(1990=100)
Crops
Staples
TABLE 13
SELECTED REAL SECTOR INDICATORS
( Per cent, except otherwise indicated)
Item
TABLE 14
SELECTED EXTERNAL SECTOR INDICATORS
(=N=Million, except otherwise indicated)
1ST.HALF 1/
1ST.HALF
1ST.HALF 1/
1ST.HALF 2/
2ND.HALF 2/
1ST.HALF 2/
2nd Half 2/
1st Half 2/
ITEM

1. BALANCE OF PAYMENTS
A. CURRENT ACCOUNT

Goods

Exports (FOB )

Oil Sector

Non-Oil Sector

Imports (FOB )

Oil Sector

Non-Oil Sector

Balance on Services & Income

Current Transfers (net)

B. CAPITAL AND FINANCIAL ACCOUNT

C. ERRORS AND OMISSIONS

D. OVERALL BALANCE

E. FINANCING

a. Exceptional Financing

i. Promissory notes

ii. Deferred / Reschedulled Debt Service

iii. Others

b. Reserves 3/

2.EXTERNAL ASSETS (End of period)

3.EXTERNAL DEBT STOCK

4.EXCHANGE RATE ( N/$ ) - Averages
127.4
131.3
134.2
Official

Parallel Market

Bureaux de Change

1 / REVISED
2 / PROVISIONAL
3 / MINUS (-) SIGN INDICATES INCREASE IN RESERVE
PLUS (+) SIGN INDICATES DECREASE IN RESERVE
TABLE 15
SELECTED EXTERNAL SECTOR INDICATORS
(US$Million, except otherwise indicated)
1ST.HALF 1/
1ST.HALF
1ST.HALF 1/
1ST.HALF 2/
2ND HALF 2/
1ST.HALF 2/
2nd Half 2/
2nd Half 2/
ITEM

1. BALANCE OF PAYMENTS
A. CURRENT ACCOUNT

Goods

Exports (FOB )

Oil Sector

Non-Oil Sector

Imports (FOB )

Oil Sector

Non-Oil Sector

Balance on Services & Income

Current Transfers (net)

B. CAPITAL AND FINANCIAL ACCOUNT

C. ERRORS AND OMISSIONS

D. OVERALL BALANCE

E. FINANCING

a. Exceptional Financing

i. Promissory notes

ii. Deferred / Reschedulled Debt Service

iii. Others

b. Reserves 3/

2.EXTERNAL ASSETS (End of period)

3.EXTERNAL DEBT STOCK

4.EXCHANGE RATE 4/

1 / REVISED
2 / PROVISIONAL
3 / MINUS (-) SIGN INDICATES INCREASE IN RESERVE
PLUS (+) SIGN INDICATES DECREASE IN RESERVE