• Contact Us
  • About Us
Wednesday, February 1, 2023
  • Login
MetroBusinessNews
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate
No Result
View All Result
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate
No Result
View All Result
MetroBusinessNews
No Result
View All Result
Home Economy

Nigerian capital imports fall by a third in third quarter -stats office

metro by metro
November 7, 2016
in Economy
0
refinery
0
SHARES
0
VIEWS

The value of capital imported into Nigeria in the third quarter fell 34 percent year on year to $1.822 billion, data showed on Monday, as Africa’s biggest economy grapples with its first recession in more than 20 years.

With low crude prices causing the OPEC member state’s revenues to plummet, the central bank imposed forex controls last year to prevent a collapse of the naira currency.

Read Also

Naira Redesign: El-Rufai Exonorates Emefiele 

Again, Buhari’s Government Drops In Corruption Ranking

75% Of N2.7trn Outside Banking System Captured Through Currency Redesign Exercise So Far-CBN 

The National Bureau of Statistics said foreign direct investment declined by 53 percent year-on-year and portfolio investment dropped by 9 percent.

Capital imported rose 75 percent from the second quarter, however. “Much of the quarterly increase …came from debt financing,” said the statistics office.

The banking sector imported the largest amount of capital — $556 million.

A shortage of hard currency has seen the naira fall to record lows on the parallel market in the last few months.

 

Previous Post

Chelsea go top after City are held

Next Post

CBN’s dollar management policy puts pressure on the naira

Related Posts

Naira Redesign: El-Rufai Exonorates Emefiele 
Economy

Naira Redesign: El-Rufai Exonorates Emefiele 

February 1, 2023
Why Economic Hardship, Political Uncertainty May Linger In 2023-Analysts
Economy

Again, Buhari’s Government Drops In Corruption Ranking

January 31, 2023
CBN
Economy

75% Of N2.7trn Outside Banking System Captured Through Currency Redesign Exercise So Far-CBN 

January 29, 2023
Godwin Emefiele
Economy

CBN Extends Deadline For Use Of Old Naira Notes By 10 Days, Gives Reasons 

January 29, 2023
Next Post
Naira

CBN’s dollar management policy puts pressure on the naira

Naira Redesign: El-Rufai Exonorates Emefiele 

Naira Redesign: El-Rufai Exonorates Emefiele 

February 1, 2023

Safeguarding democracy: why digital transformation of the electoral process is critical

January 31, 2023
CBN

Banks Will Continue To Accept Old Naira Notes After Deadline – Emefiele 

January 31, 2023
ADVERTISEMENT
MetroBusinessNews

© 2022 Metro Business News

Navigate Site

  • Contact Us
  • About Us

Follow Us

No Result
View All Result
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate

© 2022 Metro Business News

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Go to mobile version