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BREAKING : Total Value of Capital Imported into Nigeria Drops by -78.60% in Q2, Says NBS

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The National Bureau of Statistics (NBS) has said the total value of capital importation into Nigeria stood at $1.29billion in the second quarter of 2020.

This represents a decrease of -77.88per cent compared to Q1 2020 and -78.60 per cent in Q2 2019.

The Nigeria Capital Importation report by NBS released on Friday explained, that, “The largest amount of capital importation by type was received through Other investment, which accounted for 58.77 per cent ($761.03million) of total capital imported, followed by Portfolio Investment, which accounted for 29.76 per cent ($385.32million) and Foreign Direct Investment (FDI), which accounted for 11.47 per cent ($148.59million) of total capital imported in Q2 2020.

“By sector, Capital importation by Shares dominated in Q2 2020 reaching $464.57million of the total capital importation in Q2 2020.

“The United Kingdom emerged as the top source of capital investment to Nigeria in Q2 2020 with $428.83m. This accounted for 33.12 per cent of the total capital inflow in Q2 2020.

“By Destination of Investment, Lagos state emerged as the top destination of capital investment in Nigeria in Q2 2020 with $1,130.49million. This accounted for 87.30 per cent of the total capital inflow in Q2 2020.

The report disclosed that Standard Chartered Bank Nigeria Limited emerged at the top of capital investment in Nigeria in Q2 2020 with $425.21million. This accounted for 32.84 per cent of the total capital inflow in Q2 2020.

 

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