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  Policy Risk Takes Centre Stage in 2012
 
 
Jide_Akintunde
Jide Akintunde, Managing Editor, Financial Nigeria Publications

I asked: why would President Goodluck Jonathan want to promote an explosive policy of withdrawal of subsidy on the price of petrol at a time when he is grappling with other inflammable issues including insecurity and perception of high-level corruption in government? Well, he has to begin to define his administration. That often involves introduction of policy changes. He is already more than seven months in office following his election last year. In Africa, especially where there had been leadership transition, policy changes can take various forms and produce different effects on business and social climates. Much like in Nigeria, policy changes are expected in most of the 17 countries in Africa where elections had held in 2011 - a year that amplified political risk on the continent. 
 
 
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  NEWS | Summary
  FOREX | Official curency rates against NGN
Updated : 11 Nov 11
Currency Buying Central Selling
EURO 205.99 206.67 207.35
USD 151.82 152.32 152.82
BRITISH POUNDS 241.79 242.59 243.38
CFA 0.3 0.31 0.32
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  MONEY | Nigeria Inflation rate

Source: Nigeria Bureau of Statistics. (NBS) – 12 months average.

  COMMODITIES | Oil & Gas data
Item info Comments
Nigeria's OPEC Quota 2,265,000 bpd Since March 2005
OPEC Yearly Average

US$61.08 (2006)
US$69.08 (2007)
US$94.45 (2008)
US$61.06 (2009)

OPEC
Monthly Basket Price US$74.48 May-10
US$72.95 Jun-10
US$72.51 Jul-10
OPEC
Nigeria's Oil Reserve 34 billion barrels 2005 (DPR)
Nigeria's Proven Gas Reserves 184 trillion cubic feet, 7th World Largest Oil and Gas Journal 2009 Estimate
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