Capital importation to Nigeria up by 53.97 per cent in Q1 2020 - AFRICA REVIEW
Capital importation, comprising Foreign Direct Investment (FDI), portfolio investments and other investments into Nigeria increased to US$5.9bn in Q1 from US$3.8bn in the Q4 2019
The Nigeria Bureau of Statistics (NBS) has said this in its report on capital importation in Q1 2020.
Of these figures, portfolio investments at US$4.3bn took the lead, a towering 73.61 per cent, followed by other investments at US$1.33bn, a 22.73 per cent and the rear by FDI at US$214.25m, a paltry 3.66 per cent.
By sector, the thriving Nigerian banking industry had a chunk of the importation at US$2.99bn, while the UK, Nigeria colonial mister and a strong trading partner came top as Nigeria source of investments with US$2.9bn, representing 49.68 per cent of the total inflow. Lagos had the highest inflow with US$5,13mn, accounting for 87.72 per cent of the total capital import.