Nigeria’s 2018 capital imports rise as funds bet on equities

February 14th, 2019

The value of capital imported into Nigeria rose 37.5 percent to $16.8 billion in 2018, data showed on Wednesday, with much of that being spent on equities in Africa’s largest oil producer.

Nigeria holds a presidential election on Saturday, and the performance of the economy has been a major campaign issue. In 2018, it grew at its fastest pace since a recession two years earlier.

The National Bureau of Statistics on Wednesday said $10.43 billion of the headline amount went into equities and equity-related investment, with Britain topping the list of countries from which the funds came.

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