In its Capital Importation Report for Q3’21 released yesterday, the Bureau disclosed that the largest amount of capital importation by type was received through portfolio investment, which accounted for 70.3 percent ($1.21 billion) of total capital importation.
The report stated:”The total value of capital importation into Nigeria in the third quarter of 2021 stood at $1.73 billion from $875.62 million in the preceding quarter of 2021, showing an increase of 97.7 percent.
“When compared to the corresponding quarter of 2020, capital importation as well increased by 18.4 percent from $1.46 billion.
“The largest amount of capital importation by type was received through portfolio investment, which accounted for 70.30 percent ($1.21 billion) of total capital importation. “This was followed by other investment, which accounted for 23.4 percent ($406.35 million) and Foreign Direct Investment (FDI) amounted to 6.23 percent ($107.81 million) of total capital imported in Q3 2021.”
On capital importation by sector, NBS said: “Capital importation into financing had the highest inflow of $469.17 million amounting to 27 percent of total capital imported in the third quarter of 2021. This was closely followed by capital imported into the banking sector valued at $460.39 million (26.59%) and the production sector $323.83 million (18.7%).
“Capital importation by country of origin revealed that the United Kingdom ranked top as source of capital imported into Nigeria in the third quarter of 2021 with a value of $709.8 million, accounting for 40.99 percent of total capital imported in the period under review.
“This was followed by capital imports from South Africa and the United States of America valued at $389.54 million (22.5%) and $257.12 million (14.85%) respectively.”