Nigeria Capital Importation Reaches $8.48 Billion In Q1

Must Read


No doubt, startups can be very exciting, but the challenge of raising capital for it to get some footing...

Excitement as Ekiti Returns Christ’s School to Anglican Church

Ekiti State Government on Monday returned Christ School, Ado- Ekiti to its original owner- the Anglican Communion, in fulfilment...

Ekiti To Get $500 Million World Bank Project As Fayemi Allocates N18 Million To 19 Communities

Ekiti State Governor, Dr Kayode Fayemi, on Tuesday declared that the World Bank would shortly begin on some legacy projects...
- Advertisement -
- Advertisement -

The cumulative value of capital importation into the country reached $8.48 billion in the first quarter of the year (Q1 2019), according to the National Bureau of Statistics (NBS).

The figure signified an extension of 216.03 per cent compared to the $2.14 imported in the fourth quarter (Q4) of 2018 and 34.61 per cent increase compared to the first quarter of 2018.

According to the Nigerian Capital Importation- Q1 2019 report, which was posted on the NBS website yesterday, the largest amount of capital importation by type was received through portfolio investment, which accounted for 84.21 per cent ($7.14 billion) of total capital importation.

This was followed by other investment, which accounted for 12.91 per cent or
$1. 09 billion of the total capital, as well as Foreign Direct Investment (FDI), which accounted for 2.86 per cent, amounting to $243.36 million of total capital imported in Q1.

Read:  12th African Games: Flying Eagles Knocks South Africa

When categorised by sector, the banking sector attracted $2.85 billion of the total capital imports in Q1.
Stanbic IBTC Bank Plc emerged at the top of capital investment into the country in Q1 with $3.60 billion.
This accounted for 42.50 per cent of the total capital inflow.

According to the report, the United Kingdom emerged as the top source of capital investment in the country with $4.53 billion, which accounted for 53.40 per cent of the total capital inflow in Q1.

Also, by the destination of investment, Lagos State emerged as the top destination of capital investment with $4.77 billion, which accounted for 56.25 per cent of the total capital inflow into the country.
According to the statistical agency, capital importation had dropped to $2.14 billion in Q4,2018 compared to $2.85 billion in the preceding quarter.

Read:  Impact Week 2017 - Lufthansa to Train 200 Unilag Students
Read:  Zedvance to Provide Loans to non-Salary Earners

However, the total value of capital importation in 2018 was valued at $16.81 billion, representing a growth of 37.49 per cent (year-on-year) when compared to the $12.22 billion recorded in 2017.

However, the Central Bank of Nigeria (CBN), recently put the value of total foreign capital flows into the country at $14.2 billion between January and May 2019.

According to the apex bank, Foreign Direct Investment (FDI) accounted for $2.87 billion, representing 20.18 per cent of the total amount.

CBN Director, Corporate Communications, Mr Isaac Okorafor, had in a statement, stated that the increased capital Inflow for the period was contrary to a Reuters report which had indicated that the country’s FDI slumped last year.

- Advertisement -

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest News

Datasonic Group Endorse JV Agreement To Explore Business Opportunities In Nigeria

Datasonic Group Bhd has teamed up with a Nigerian firm to study business opportunities in the West African nation...

Enhancing The Contribution Of Innovation, Youth And Leadership In Africa And The African Diaspora

“Young people – with their dynamism, their energy and their inherent understanding of our interconnected world – have much to teach us... I am...

16 Coaches From Africa Shortlisted As “Future Stars” By Arsenal And WorldRemit

Today, WorldRemit announces that 16 applicants from Africa have been shortlisted for its Future Stars programme. Of these 16 coaches, eight are women.WorldRemit and...

Design Fashion Africa Set To Prove That Nigerian Fashion Is Just As Viable As Her Music

2019 has been an amazing year for Nigerian artistes. It’s the year that afrobeat — a hugely popular African sound with its roots from Nigeria —...

More Articles Like This