Nigeria capital import drops by 34 Percent in one year

0
269

The National Bureau of Statistics on Monday released the capital importation report for the third quarter of this year, with the country recording an increase of 74.84 per cent or $1.82 billion in investment inflow from $1.04 billion in the second quarter.

The bureau in the report which was made available to our correspondent in Abuja, however, stated that when compared with the inflow in the relative third quarter of 2015, the capital imported into the country represented a decline of 33.7 per cent.

There are three major categories of investments that make up the total investment inflow into the country. They are portfolio investments, foreign direct investments and other investments. An analysis of the report revealed that during the third quarter, portfolio investment rose by 172.84 per cent to $920.32 million from $337.3 million in the second quarter.

In the same vein, the report stated that foreign direct investment rose by 84.8 per cent from $184.3 million in the second quarter to $340.64 million in the third quarter, while other investments rose by 7.8 per cent to $561.6 million from $520.6 million.

- Advertisement -First Bank mobile money