Nigeria’s Capital Importation falls to $875.62 million (Q2, 2021)- NBS

The latest report by the National Bureau of Statistics (NBS) has shown that the total value of capital importation into Nigeria declined to $875.62 million in the second quarter of 2021 (Q2, 2021) from $1,905.89 million in the first quarter of 2021 (Q1, 2021). This represents a decrease of -54.06% compared to Q1 2021 and -32.38% decrease compared to the second quarter of 2020.

According to the NBS, the largest amount of capital importation by type was received through Portfolio investment, which accounted for 62.97% ($551.37 million) of total capital importation, followed by Other Investment, which accounted for 28.13% ($246.27 million) of total capital imported and Foreign Direct Investment (FDI), which accounted for 8.90% ($77.97 million) of total capital imported in Q2 2021.

By sector, Capital importation by Banking dominated in Q2 2021 reaching $296.51 million of the total capital importation in Q2 2021.

The United Kingdom emerged as the top source of capital investment in Nigeria in Q2 2021 with $310.26 million. This accounted for 35.43% of the total capital inflow in Q2 2021.

By Destination of Investment, Lagos State emerged as the top destination of capital investment in Nigeria in Q2 2021 with $780.06 million. This accounted for 89.09% of the total capital inflow in Q2 2021.

By Bank, Stanbic IBTC Bank Plc emerged at the top of capital investment in Nigeria in Q2 2021 with $310.21 million. This accounted for 35.43% of the total capital inflow in Q2 2021.

Amaka E. Nliam/NBS