Nigeria’s president Muhammadu Buhari would have also spent 30 percent of this 11-year defense budget by the end of the fiscal year in 2018, having only resumed office in 2015. If his request is granted, Nigeria’s defense budget in 11 years will reach N6.5 trillion. Below is the Ventures Africa Weekly Economic Index, for the week ending 27th of July 2018. Market capitalization at the close of trading during the week under review was N13.272 trillion, a 0.09 percent increase from N13.260 trillion recorded the previous week. The Naira depreciated from N360/$ recorded on the 20th of July, 2018, to N361/$ on the 27th of July, 2018.

Source: The North Africa Journal July 30, 2018 14:57 UTC