Capital imported into Nigeria, maintained an upward trajectory in 2018Q1, following three consecutive quarterly increase. Specifically, capital importation rose to $6.30 billion in 2018Q11– a remarkable Year-on-Year growth of 594 percent (from $908.27 million), and Quarter-over-Quarter increase of 17 percent ($5.38 billion). Inferably, investors’ interest and confidence in the Nigerian economy have continued to soar since 2017Q2; this is particularly represented by the extent of portfolio investment flows which increased approximately fifteen times more than the $313.61 million recorded in the corresponding 2017Q1 quarter, and accounted for 72.4 percent of total capital importation in the review quarter
Macroeconomic Report & Economic Updates
Latest Doing Business report by the World Bank ranks Nigeria as one of the top 10 economies that showed notable improvements in doing business in 2016/2017. Precisely, the report which presents quantitative indicators on business regulation compared across 190 economies and ranked Nigeria 145th - up by 24 positions from the previous report ranking, to reach its highest rank since 2013. This may not be unexpected, given that it is consequent upon various business environment reforms in 2016. Particularly, the Presidential Enabling Business Environment Council (PEBEC) set up in 2016 enacted 31 reforms to improve business(such as improving credit to small and medium-size businesses) all of were enacted into law in May 2017.