Recently released report by the National Bureau of Statistics shows that Nigeria recorded remarkable Year-on-Year (YoY) and Quarter-over-Quarter (QoQ) increase in capital importation. Total capital importation stood at $1,792.3 million in 2017Q2, representing 72 percent YoY and 97 percent QoQ growths respectively. Disaggregated data points to portfolio investment as the dominant type of investment imported, with a value of $770.5 million, 43 percent of total capital importation. The increase in capital importation was driven by 145 percent QoQ surge in portfolio investment and a remarkable increase in capital imported through shares.

Nigerias Petroleum Products Imports statistics show a gradual reduction in the volume and value of petroleum imports (PMS, AGO, HHK) between May and September 2016. Specifically, volume of imports declined by 34.1 percent for PMS, 37.6 percent for AGO, and 60.3 percent for HHK in the period.The significant decline in imports in the reporting periods may be as a result of persistent forex scarcity issues faced by importers. On account of stagnation in domestic production of refined petroleum products, continuous decline in oil imports may create a demand gap with upward pressure on gasoline prices in the economy.