Home BUSINESS AND ECONOMY Nigeria’s Capital Importation rises 34% to $8.5bn in Q1, 2019
Nigeria’s Capital Importation rises 34% to $8.5bn in Q1, 2019

Nigeria’s Capital Importation rises 34% to $8.5bn in Q1, 2019

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National Bureau of Statistics (NBS) said that Nigeria’s total Capital Importaion in the first Quarter of 2019 rose by 34.6 percent year-on-year to $8.5 billion  The Bureau disclosed this in it’s Capital Importation report for first quarter of 2019 released yesterday, in Abuja

The report said: “The total value of capital importation into Nigeria stood at $8.485 billion in the first quarter of 2019. This represents an increase of 216.03 per cent compared to Q4 2018 and 34.61 per cent increase compared to the first quarter of 2018.

“The largest amount of capital importation by type was received through Portfolio investment, which accounted for 84.21 per cent ($7,145.98 ) of total capital importation, followed by Other Investment, which accounted for 12.91 per cent ($1,096.15m) of total capital, and then Foreign Direct Investment FDI, which accounted for 2.86 per cent ($243.36m) of total capital imported in 2019. “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 SUN

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