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Capital Imports Into Nigeria Money remittance from UK remains highest

The United Kingdom has maintained the top spot on the list of sources of greatest value of capital imported into Nigeria.

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  play (Bloomberg)

The United Kingdom has maintained the top spot on the list of sources of greatest value of capital imported into Nigeria. According to the National Bureau of Statistics, the total value of imports from the UK in the last quarter of 2014 (Q4, 2014) was put at $1.9 billion, representing 43.2 percent of all imports within the same period.

Although the figure places the UK above other countries in terms of imports into Nigeria, it was 32.6 percent less than the previous quarter (Q3, 2014)'s value of $2.9 billion. Therefore, the latest figure actually represented a continuation of the decline since Q2, 2014.

Following the UK on the list is the United States, with total import value of $1.07 billion in Q4, 2014. Saudi Arabia, Egypt, and Belgium occupy the next three positions, with total import values for the same period put at $435.5 million, $282.1 million, and $79.9 million, respectively.

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