Nigeria’s Capital Inflow drops 78.6% to $1.29bn in Q2 2020

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The National Bureau of Statistics (NBS) on Friday said Nigeria recorded a total of $$1.29 billion in capital inflow (importation) in the second quarter of 2020. This represents a decrease of -77.88% compared to Q1 2020 and -78.60% in Q2 2019.

According to the report, the largest amount of capital importation by type was received through Other investment, which accounted for 58.77% ($761.03m) of total capital imported, followed by Portfolio Investment, which accounted for 29.76% ($385.32m) and Foreign Direct Investment (FDI), which accounted for 11.47% ($148.59m) of total capital imported in Q2 2020.

Capital importation by Shares dominated in Q2 2020 reaching $464.57m of the total capital importation in Q2 2020.

Capital inflows by origin

The United Kingdom emerged as the top source of capital investment to Nigeria in Q2 2020 with $428.83m. This accounted for 33.12% of the total capital inflow in Q2 2020.

Other countries that accounted for the biggest share of capital inflows in Nigeria during the period include South Africa ($149.3 million), UAE ($145.2 million), Netherlands ($141.3 million) and Singapore (134.4 million).

Capital inflows by destination

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By Destination of Investment, Lagos state emerged as the top destination of capital investment in Nigeria in Q2 2020 with $1,130.49m. This accounted for 87.30% of the total capital inflow in Q2 2020.

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Ogun State received $11 million within the quarter, Niger ($6.86 million), Anambra ($1.16 million) and Kano State, which received $130,000 capital inflows.

Capital inflows by Bank

Standard Chartered Bank Nigeria Limited emerged at the top of capital investment in Nigeria in Q2 2020 with $425.21m. This accounted for 32.84% of the total capital inflow in Q2 2020.

The banking sector came third on the list as it attracted $140.2 million (10.8%) capital inflows, others on the list include; Production $110.8 million (8.6%), Telecoms $105.6 million (8.2%), Trading $68.2 million (5.3%) and Agriculture $48.8 million (3.8%).

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Nigeria’s Capital Inflow drops 78.6% to $1.29bn in Q2 2020 - Brand SpurNigeria’s Capital Inflow drops 78.6% to $1.29bn in Q2 2020 - Brand Spur
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Nigeria’s Capital Inflow drops 78.6% to $1.29bn in Q2 2020 - Brand SpurNigeria’s Capital Inflow drops 78.6% to $1.29bn in Q2 2020 - Brand Spur

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- Advertisement -Nigeria’s Capital Inflow drops 78.6% to $1.29bn in Q2 2020 - Brand SpurNigeria’s Capital Inflow drops 78.6% to $1.29bn in Q2 2020 - Brand Spur