The total value of capital imported into Nigeria more than
doubled in the third quarter to $4.15 billion, after the economy emerged from a
recession, the National Bureau of Statistics (NBS) said on Monday.
Nigeria’s economy grew in the second quarter, climbing out
of its first recession in 25 years, as oil revenues rose. Last year the central
bank imposed currency controls to prevent a collapse in the naira, which
affected foreign capital inflows.
The NBS said capital imports were over $4 billion in the
third quarter, the first such quarterly rise since 2015, just before the
economy tipped into a recession. The rise was driven by portfolio and other
investments, it said in a report.
“Shares recorded the largest amount of capital imported in
Q3 2017, closely followed by servicing and production sectors,” the statistics
office said.
Britain and the United States were among the top 10 sources
of imported capital, the statistics office said.
Capital imports fell to $5.12 billion last year after
reaching $9.64 billion in 2015.
Reuters
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