Capital importation hits $8.4m in Q1 2019 —NBS

The total value of capital importation into Nigeria stood at $8,485 million in the first quarter of 2019.

This represents an increase of 216.03 per cent compared to fourth quarter 2018 and 34.61 per cent increase compared to the Q12018.

In its Nigerian Capital Importation report for Q1 2019, the National Bureau of statistics (NBS) stated that the largest “amount of capital importation by type was received through Portfolio investment, which accounted for $7,145.98 or 84.21 per cent of total capital importation, followed by Other Investment, which accounted for 12.91% ($1,096.15m) of total capital, and Foreign Direct Investment (FDI), which accounted for 2.86 per cent or $243.36m of total capital imported in the period under review.  

“By sector, Capital importation by banking dominated Q1 2019 reaching $2,851.07 million of the total capital importation in Q1 2019.

“The United Kingdom emerged as the top source of capital investment in Nigeria in Q1 2019 with $4,531.22 million. This accounted for 53.40 per cent of the total capital inflow in Q1 2019,” the report said.

By Destination of Investment, Lagos state emerged as the top destination of capital investment in Nigeria in Q1 2019 with $4,773.26 million.

This accounted for 56.25% of the total capital inflow in Q1 2019.

By bank, Stanbic IBTC Bank Plc emerged at the top of capital investment in Nigeria in Q1 2019 with $3,606.09 million. This accounted for 42.50 per cent of the total capital inflow in Q1 2019.

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