Nigeria’s capital importation decreases to $875.62m in Q2–NBS
The total value of capital importation into Nigeria declined to $875.62million in the second quarter of 2021 from $1,905.89million in the first quarter of 2021, according to the National Bureau of Statistics (NBS) report.
The report titled “Nigerian Capital Importation – Q1 & Q2 202 the figure represents a decrease of -54.06% compared to Q1 2021 and -32.38% decrease compared to the second quarter of 2020.
The data added: “By Destination of Investment, Lagos state emerged as the top destination of capital investment in Nigeria in Q2 2021 with $780.06m. This accounted for 89.09% of the total capital inflow in Q2 2021.”
The report also noted the largest amount of capital importation by type was received through Portfolio investment, which accounted for 62.97% ($551.37million) of total capital importation, followed by Other Investment, which accounted for 28.13% ($246.27million) of total capital imported and Foreign Direct Investment (FDI), which accounted for 8.90% ($77.97million) of total capital imported in Q2 2021.
According to NBS, the United Kingdom emerged as the top source of capital investment in Nigeria in Q2 2021 with $310.26million.This accounted for 35.43% of the total capital inflow in Q2 2021, it said.
On importation by Bank, Stanbic IBTC Bank Plc emerged at the top of capital investment in Nigeria in Q2 2021 with $310.21million, accounting for 35.43% of the total capital inflow in Q2 2021.
On analysis by sector, capital importation by banking dominated in Q2 2021 reaching $296.51million of the total capital importation in Q2 2021.
NBS report said : “The total value of capital importation into Nigeria declined to $875.62million in the second quarter of 2021 from $1,905.89m in the first quarter of 2021. This represents a decrease of -54.06% compared to Q1 2021 and -32.38% decrease compared to the second quarter of 2020.”
