The National Bureau of Statistics (NBS)on Tuesday published a report on the Nigerian Capital Importation. The report shows that the total value of capital importation into Nigeria stood at $5,854.38m in the first quarter of 2020. This represents an increase of 53.97% compared to Q4 2019 and -31.19% decrease compared to the first quarter of 2019.
The largest amount of capital importation by type was received through Portfolio investment, which accounted for 73.61% ($4,309.47m) of total capital importation, followed by Other Investment, which accounted for 22.73% ($1,330.65m) of total capital, and then Foreign Direct Investment FDI, which accounted for 3.66% ($214.25m) of total capital imported in Q1 2020.
By sector, Capital importation by banking dominated Q1 2020 reaching $2,990.21m of the total capital importation in Q1 2020.
The United Kingdom emerged as the top source of capital investment in Nigeria in Q1 2020 with $2,908.62m. This accounted for 49.68% of the total capital inflow in Q1 2020.
By Destination of Investment, Lagos state emerged as the top destination of capital investment in Nigeria in Q1 2019 with $5,135.49m. This accounted for 87.72% of the total capital inflow in Q1 2020.
By Bank, Standard Chartered Bank Nigeria Limited emerged at the top of capital investment in Nigeria in Q1 2020 with $1,656.60m. This accounted for 28.30% of the total capital inflow in Q1 2020.