NBS Puts Investment Inflow at $1.04bn

budgetThe Central Bank of Nigeria, Abuja, Nigeria

NBS Puts Investment Inflow at $1.04bn

The National Bureau of Statistics on Sunday released a revised version of the capital importation report for the second quarter, with estimated investment inflow of $1.04bn.

The investment inflow represents an increase of 46.58 per cent over the amount recorded in the first quarter of this year.

This contrasts with the preliminary estimate of $647.1m for the second quarter that was based on the first two months of the quarter, which indicated a quarter-on-quarter decrease of 8.98 per cent.

However, a sharp increase in June outweighed the low values recorded in April ($305.82m) and May ($125.58m).

The statement from the NBS read in part, “The total value of capital imported into Nigeria in the second quarter of 2016 was estimated to be $1.04bn, which represents an increase of 46.58 per cent relative to the first quarter, and a fall of 60.91 per cent relative to the second quarter of 2015.

“This contrasts with the preliminary estimate for Q2 2016 of ($647.1m), which was based on the first two months of the quarter, which indicated a quarter-on-quarter on decrease of 8.98 per cent.

“We had estimated June at $215.7m. The actual level of capital imported in June ($610.77m) was, however, the highest monthly value in 2016 so far.”

About the Author

Samed Olukoya
Samed Olukoya is the CEO/Founder of investorsking.com, a digital business media, with over 10 years' experience as a foreign exchange research analyst and trader. A graduate of University of East London, U.K. and a vivid financial markets analyst.

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