Macro Analysis /

Nigeria: Imported capital halves q/q to USD 876mn in Q2 as FX uncertainty remains

    28 July 2021
    • Q/Q drop is across board and also reflects global uncertainty, and resurgence of COVID
    • CBN adopted NAFEX as new official FX rate in order to ease FX uncertainty
    • Nigeria's vulnerability to external shocks have kept foreign investors away since March 2020
    • In H1, imported capital slumped to USD 2.8bn from USD 7.1bn one year earlier