The total value of capital importation into Nigeria stood at $1.73 billion in the third quarter of 2021, from $875.62 million in the preceding quarter of 2021, the National Bureau of Statistics (NBS) says.<\/p>\n
The bureau said this in its \u201cNigerian Capital Importation, Quarter Three (Q3), 2021\u2033 report released and obtained from its website in Abuja.<\/p>\n
The figure represents an increase of 97.73 per cent compared to Quarter Two 2021 and 18.47 per cent increase from $1.461 billion in the third quarter of 2020.<\/p>\n
It said that the largest amount of capital importation by type was received through portfolio investment which accounted for 70.30 per cent ($1.217 billion) of total capital importation.<\/p>\n
This was followed by other investment which accounted for 23.47 per cent ($406.35 million) and Foreign Direct Investment (FDI) amounted to 6.23 per cent ($107.81 million) of total capital imported in the quarter.<\/p>\n
Giving details by sectors, the report said that capital importation into financing had the highest inflow of $469.17 million amounting to 27.10 per cent of total capital imported in the period under review.<\/p>\n
\u201cThis was closely followed by capital imported into the banking sector valued at $460.39 million (26.59 per cent) and production sector $323.83 million (18.70 per cent).<\/p>\n
\u201cCapital 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 per cent.<\/p>\n
\u201cThis was followed by capital imports from South Africa and United States of America valued at $389.54 million (22.50 per cent) and $257.12 million (14.85 per cent) respectively.\u201d<\/p>\n
By destination of investment, the NBS said that Lagos State remained the top destination of capital investment in Nigeria in the quarter with $1.481 billion, accounting for 85.57 per cent of total capital investment in Nigeria in the period under review.<\/p>\n
This was followed by investment into Abuja (FCT) valued at $249.19 million (14.39 per cent).<\/p>\n
Meanwhile, by bank, Stanbic IBTC Bank Plc ranked highest with $537.92 million dollars (31.07 per cent) of total capital investment in Nigeria.<\/p>\n
This was followed by Standard Chartered Bank with $326.01 million (18.83 per cent) and Citibank Nigeria Limited with $248.30 million (14.34 per cent).<\/p>\n
The report was supplied administratively by the Central Bank of Nigeria (CBN), verified and validated by the NBS.<\/p>\n","protected":false},"excerpt":{"rendered":"
The total value of capital importation into Nigeria stood at $1.73 billion in the third quarter of 2021, from $875.62 million in the preceding quarter of 2021, the National Bureau…<\/p>\n","protected":false},"author":1,"featured_media":90578,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-90577","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\n