Nigeria’s National Bureau of Statistics (NBS) has said that importation of capital into
Nigeria declined by 7.7 percent.
The NBS said in the report released on Monday in Abuja that the total value of capital
importation into Nigeria stood at $5,367.56 million in the third quarter of 2019.
“This represents a decrease of -7.78% compared to 2019 second quarter and 87.99%
compared to the third quarter of 2018,’’ the report stated.
The report said the largest amount of capital importation by type was received through
Portfolio investment, which accounted for 55.88% (US$2,999.50 million) of total capital
importation.
“This is followed by Other Investments, which accounted for 40.39% ($2.167.98million) of
total capital, and then Foreign Direct Investment FDI, which accounted for 3.73%
($200.08m) of total capital imported in Q3 2019.
By sector, Capital importation by the banking sector dominated 2019 third quarter
reaching $1,756.83 million of the total capital importation in Q3 2019.
The United Kingdom emerged as the top source of capital investment in Nigeria in the
period under review with US$2,011.14 million, accounting for 37.47% of the total capital
inflow.
Lagos, Nigeria’s commercial city, emerged as the top destination of capital investment with
US$4,976.40 million, accounting for 92.71% of the total capital inflow.
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MM/GIK/APA