Stats bureau: Investment flows to Nigeria down a third over election uncertainty, oil prices

The National Statistics Bureau says foreign investment to Nigeria fell by nearly a third with the United States a "key driver" of the decline in the first quarter of 2015, compared to the same period last year.

A new report blames uncertainty around presidential elections and depressed oil prices.

It says the decline is even sharper, at more than 40 percent, when comparing the last quarter of 2014 to the first quarter of 2015.

Capital importation to Africa's biggest oil producer totaled $2.67 billion for the opening quarter.

The report says former colonizer Britain remains the biggest source of foreign investment for Nigeria but the United States was the key driver of the sharp decline with a reduction of $725.80 million or 67.57 percent.