Capital Importation Into Nigeria Hits $6.5 Million , Dips By 2.32 Percent Cumulative

This is based on the summary of data released by the Nigerian Bureau of Statistics (NBS). The figure however represents a cumulative decline of 2.32 percent for the whole year compared with the cumulative obtained for 2013.

According to NBS, the data demonstrated a continuation of upward trend observed over the years thus far.

“From the second quarter value of $5,803.89 million, there was an increase of $738.69 million or 12.73%, whilst year on year growth amounted to $2,123.82 million, up 48.06% from the $4,418.75 of capital imported in Q3 of 2013”, NBS said.

“However, 2013 saw a steady decline in inflows, bottoming out at $3,904.55 million of capital imported in the opening quarter of 2014. This represented a decline of $2,696.02 million or 69.05% from the peak recorded just one year earlier”, the NBS stated, adding that despite the steady rises in inflows observed throughout 2014, the cumulative total for the year of $16,251.02 million is still $385.97 million or 2.32% below the 2013 cumulative total of $16,636.99 million.