Capital Market

Lagos Ranked Top Destination Of Capital Investment As Importation Value Rises By 97% In Q3’21

Lagos state remains the top destination of capital investment in Nigeria in the third quarter (Q3) of 2021 with $1,481.58 million accounting for 85.57 percent of total capital investment in the country.

In second place is the Federal Capital Territory (FCT), Abuja with investments valued at $249.19 million (14.39%).

According to the Capital Importation Report for Q3’21 recently released by the National Bureau of Statistics (NBS), the total value of capital importation into Nigeria in the third quarter of 2021 stood at $1,731.37 million from $875.62 million in the preceding quarter of 2021, showing an increase of 97.73%.

When compared to the corresponding quarter of 2020, capital importation as well increased by 18.4 percent from $1.46 billion.

The report also revealed that the largest amount of capital importation by type was received through Portfolio investment, which accounted for 70.30% ($1,217.21 million) of total capital importation. This was followed by Other Investment which accounted for 23.47% ($406.35 million) and Foreign Direct Investment (FDI) amounted to 6.23% ($107.81 million) of total capital imported in Q3 2021.

By Sectors, capital importation into financing had the highest inflow of $469.17 million amounting to 27.10% 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 Production sector $323.83 million (18.70%).

“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% of total capital imported in the period under review. This was followed by capital imports from South Africa and United States of America valued at $389.54 million (22.50%) and $257.12 million (14.85%) respectively”, the NBS said in its report.

Also, Stanbic IBTC Bank Plc ranked highest in Q3 2021 with $537.92 million (31.07%) of total capital investment in Nigeria. This was followed by Standard Chartered Bank (18.83%) and Citibank Nigeria Limited (14.34%).

Investors King Contributor

Share
Published by
Investors King Contributor

Recent Posts

Pounds to Naira Black Market Exchange Rate Today, 30th January 2025

How Much is Pounds to Naira Today in Black Market? The British pound (GBP) continues…

6 minutes ago

Dollar to Naira Black Market Exchange Rate Today, 30th January 2025

How Much is Dollar to Naira Today in Black Market? The dollar to naira exchange…

4 hours ago

How to Travel to Canada from Nigeria: A Complete Guide

Canada remains one of the most sought-after destinations for Nigerians due to its strong economy,…

8 hours ago

How to Convert Gift Cards to Naira: A Guide to Selling Your Gift Cards for Cash in Nigeria

Gift cards have become a popular means of gifting and making online purchases, but many…

9 hours ago

NLC to Hit the Streets Over Telecom Tariff Hike Amid Economic Hardship

The Nigeria Labour Congress (NLC) has declared a nationwide protest against the recent tariff hike…

12 hours ago

Nigeria’s Digital Payments Surge Past N1 Quadrillion as Cashless Economy Expands

Electronic payment transactions rose by 79.6% to N1.07 quadrillion for the first time in 2024,…

14 hours ago