Nigeria’s capital inflow more than doubled over the three months of 2017 third quarter (its highest in over two years), following the country’s emergence from one of the worst economic recession in its history.
The latest report of Nigeria’s National Bureau of Statistics (NBS) says total value of capital imported into Nigeria more than doubled in the third quarter binging the country’s capital inflow to about US$4.15 billion – representing the highest recorded quarterly growth since its peak of  US$9.64 billion 2015 before the recession and an impressive year-on-year growth of about 147.5%.
Nigeria, had in the wake of its 2015 presidential election slipped into what is considered its worst economic recession at least in the last 25 years mainly, due to the rapid drop in crude oil prices at the global market.
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Earlier, the Central Bank of Nigeria (CBN) had to impose some currency controls measures in a rather desperate effort to prevent the collapse in the naira which had witnessed its worst depreciation in the country’s history (at about N500 going for a US dollar).
The rise in the country’s capital inflow during the third quarter of the year was said to have been fueled by portfolio with 67%, followed by other investments capturing 30% as well as Foreign Direct investment with the lowest stake at 3%.
“Shares recorded the largest amount of capital imported in Q3 2017, closely followed by servicing and production sectors†the NBS stated.
In addition, Britain and the United States appeared among the top ten (10) sources of imported capital during the period.