Nigeria Records $5.85bn Capital Importation in Q1
Finance Minister
Nigeria has recorded a rise in capital importation to $5.85 billion in the first quarter of the year from $3.80 billion in the preceding quarter.
According to the Nigerian Capital Importation (Q1 2020 report) of the National Bureau of Statistics (NBS), this showed an increase of $2.05 billion or of 53.97 per cent when compared to the figure of Q4 2019.
This also showed a contraction of 31.19 per cent compared with the $8.50 billion recorded in Q1 2019.
In the report, portfolio investment was the largest with 73.61 per cent of $4.30 billion of total inflows, while other investments accounted for 22.73 per cent of $1.33 billion of the total share.
Foreign Direct Investment (FDI) was 3.66 per cent of $214.25 million of total capital imported in Q1.
In the report, the United Kingdom came top in terms of source of capital investment in the Q1 with $2.90 billion, showing 49.68 per cent of the total capital inflow.
The report also showed that Lagos remained the top destination of capital investment in the country with $5.13 billion, which is 87.72 per cent of the total capital imports while seven states and the FCT Abuja accounted for the $5.85 billion capital importation in Q1.
According to the Nigerian Capital Importation (Q1 2020 report) of the National Bureau of Statistics (NBS), this showed an increase of $2.05 billion or of 53.97 per cent when compared to the figure of Q4 2019.
This also showed a contraction of 31.19 per cent compared with the $8.50 billion recorded in Q1 2019.
In the report, portfolio investment was the largest with 73.61 per cent of $4.30 billion of total inflows, while other investments accounted for 22.73 per cent of $1.33 billion of the total share.
Foreign Direct Investment (FDI) was 3.66 per cent of $214.25 million of total capital imported in Q1.
In the report, the United Kingdom came top in terms of source of capital investment in the Q1 with $2.90 billion, showing 49.68 per cent of the total capital inflow.
The report also showed that Lagos remained the top destination of capital investment in the country with $5.13 billion, which is 87.72 per cent of the total capital imports while seven states and the FCT Abuja accounted for the $5.85 billion capital importation in Q1.
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