The National Bureau of Statistics (NBS) said this in its “Nigerian
Capital Importation, Quarter Four (Q4), 2020” report on its website on
Friday in Abuja.
The figure reduced by 14.31 billion dollars, represented a decline of
-59.65 per cent.
It also said that the total value of capital importation into Nigeria in
fourth quarter stood at 1.06 billion dollars, representing a decrease of
-26.81 per cent compared to third quarter which had 1.46 billion
dollars.
The bureau, however, said that the figure showed a decrease of -71.87
per cent when compared to fourth quarter 2019 which had 3.802 billion
dollars.
The NBS added that the largest amount of capital importation by type in
fourth quarter was received through other investment, which accounted
for 783.26 million dollars.
The amount represented 73.22 per cent of total capital importation.
This was closely followed by Foreign Direct Investment (FDI), which
accounted for 251.27 million dollars and also represented 23.49 per
cent.
Also, portfolio investment which accounted for 35.15 million dollars,
represented 3.29 per cent.
By sector, it said shares dominated in the period under review reaching
287.04 million dollars.
The NBS also said that the United Kingdom emerged as the top source of
capital investment in Nigeria in fourth quarter 2020 with 236.88 million
dollars, accounting for 22.14 of inflow.
This was followed closely by Singapore with 181.11 million dollars and
United Arab Emirates (UAE) with 131.34 million dollars.
For full year, the United Kingdom topped the chart with capital
importation of 4.16 billion dollars, while UAE imported 899.44 million
dollars.
Netherlands has 890 million dollars capital imported, while South Africa
has 871 million dollars capital imported.
By Destination of Investment, Lagos state emerged as the top destination
of capital investment in Nigeria in Q4 with 829.64 million dollars and
for the full year with 8.304 billion dollars.
By Bank, Citibank Nigeria Ltd., emerged at the top of capital investment
in Nigeria in fourth quarter 2020 with 216.17 million dollars and 1.507
billion dollars by full year 2020.
The News Agency of Nigeria (NAN) reports that data for the report was
supplied by the Central Bank of Nigeria (CBN), while it was verified and
validated by the NBS. (NAN)