The recently published Economic Report by the Central Bank of Nigeria stated that foreign inflow through the economy rose from $11.98 billion in Q3 2017 to $14.708 billion in Q4 2017. Thus, foreign inflow through the economy rose by 22.7% due to the increase in oil dollar receipts which grew from $2.64 billion in Q3 to $6.2 billion in Q4 in the same year.
The bond market traded on a bullish note, with buy sentiments strengthened by some demand from local clients. Yields consequently declined by c.8bps on average. We expect the market to remain slightly bullish in the coming week, as market players anticipate improved liquidity inflows and favorable client demand.