Nigeria’s Capital Importation Rose by $16.8bn in 2018

• Nigeria’s Capital Importation Rose by $16.8bn in 2018

The total capital importation into Nigeria in 2018 stood at $16.81 billion, according to the National Bureau of Statistics report released on Wednesday.

The report showed investment inflow surged by $4.59 billion or 37.49 per cent when compared to the $12.22 billion recorded in the 2017 fiscal period.

A critical look into the report revealed that $11.8 billion or 70.20 per cent of the total investment inflow was received through portfolio investment.

While other investment accounted for $3.81 billion or 22.69 per cent of the total capital inflow. Foreign Direct Investment attracted the remaining $1.19 billion or 7.11 per cent.

The report read in part, “The total value of capital importation into Nigeria stood at $2.14bn in the fourth quarter of 2018.

“This represents a decrease of 25.05 per cent compared to Q3 2018 and 60.24 per cent decrease compared to the fourth quarter of 2017.”

“Similarly, the total value of capital importation into Nigeria stood at $16.81bn in 2018 compared to $12.22bn capital imported in 2017.”

Nigeria’s economy grew faster than expected in the final quarter of 2018, growing at 2.38 per cent and 1.93 per cent in 2018.