Macro Analysis /

Nigeria: Imported capital drops 24% m/m to USD 662mn in March

    12 May 2021
    • M/M drop in March driven by slowing portfolio inflows into money market instruments, loans
    • March saw strong inflow of USD 111mn into local bonds
    • Global uncertainty and Nigeria's vulnerability to external shocks have kept foreign investors away since March 2020
    • In Jan-Mar, imported capital slumped to USD 1.9bn from USD 5.9bn one year earlier