Nigeria is the 8th largest producer of crude petroleum in the World and has the 6th largest deposit of natural gas in the World. Therefore, the potentials in the oil and gas sectors, agriculture and manufacturing, telecommunications and tourism, among others brighten the growth prospects of the country.
As for the composition of assets on the balance sheet, namely, quality, the Bank increased the amount and extended the maturities of Japanese government bonds (JGBs) to be purchased. Specifically, the Bank will purchase a massive amount of JGBs so that the outstanding amount of its JGB holdings will increase by 50 trillion yen annually.