BREAKING: Capital Importation Into Nigeria Declines By 7.7%
Written by darling on November 25, 2019
Fresh statistics released by National Bureau Of Statistics (NBS) on Monday revealed that the bulk of capital importation into Nigeria declined by 7.7%
The report shows that total value of capital importation into Nigeria stood at $5,367.56 million in 2019 third quarter (July to September).
This represents a decrease of -7.78% compared to Q2 2019 and 87.99% increase compared to the third quarter of 2018.
The report added that the largest amount of capital importation by type was received through Portfolio investment, which accounted for 55.88% ($2,999.50million) of total capital importation.
This is followed by Other Investment, which accounted for 40.39% ($2.167.98million) of total capital, and then Foreign Direct Investment FDI, which accounted for 3.73% ($200.08m) of total capital imported in Q3 2019.
By sector, Capital importation by banking dominated 2019 third quarter reaching $1,756.83 million of the total capital importation in Q3 2019.
