Total Value Of Capital Importation Into Nigeria For Q4 2022 Stands At $2.19bn

The total value of capital importation into Nigeria in the fourth quarter of 2021 stood at $2.19bn, an increase of 26.35 percent from $1.73bn recorded in Q3 of the same year.

The National Bureau of Statistics (NBS) disclosed this in a recent report titled ‘Nigerian capital importation Q4’.

However, Foreign Direct Investment (FDI) into the country fell by $331.2m to $698.78m in 2021, from the total sum of $1.03bn recorded in 2020.

In the first, second, third and fourth quarters of 2021, Nigeria recorded $154.6m, $77.97m, $107.81m and $358.23m respectively in FDIs.

Also, portfolio investment in the country fell by $1.75m to $3.39bn in 2021 from $5.14bn recorded in 2020.

“Other Investments’ fell by $890m from $3.51tn in 2020 to $2.62tn in 2021.

“The total value of capital importation into Nigeria in the fourth quarter of 2021 stood at $2.19bn from $1.73bn in the preceding quarter, indicating an increase of 26.35 percent.

“When compared to the corresponding quarter of 2020, capital importation increased by 109.28 percent from $1.05bn.

“The largest amount of capital importation by type was received through other investment, which accounted for 54.24% ($1.18 billion). This was followed by Portfolio Investment with 29.39% ($642.87 million) and Foreign Direct Investment (FDI) amounted to 16.38% ($358.23 million) of total capital imported in Q4 2021”, the report notes.

Meanwhile, Mauritius was ranked the top source of capital imported into Nigeria in Q4 2021, with a value of $611.45m, accounting for 27.95 percent.

Following behind, is the United States of America and the Republic of South Africa with capital imports valued at $321.03m (14.67 percent) and $285.83m (13.07 percent), respectively.

By destination of investment, Lagos State remained the top destination in Q4 2021 with $1.98bn,  accounting for 90.66 percent of the total capital investment in Nigeria.

This was followed by investment into Abuja valued at $170.55m (7.80 percent).

Investors King gathered that Eco Bank Plc was ranked the highest in categorisation of total capital investment by Bank in Q4 2021 with $708.58m (32.39 per cent).

This was followed by Stanbic IBTC Bank with $453.82m (20.74 per cent) and Union Bank of Nigeria Plc with $284.60m (13.01 per cent).

Under categorisation by sectors, the report added that capital importation into tanning had the highest inflow of $645.59 million, amounting to 29.51% of total capital imported in the fourth quarter of 2021. This was followed by capital imported into the Production sector, valued at $360.06 million (16.46%) and the Electricals sector with $325.55 million (14.88%).