Nigerian Economy
The total value of capital importation into Nigeria declined to $875.62m in the second quarter of 2021 from $1.9bn in the first quarter of 2021.
This was disclosed in a report released by the National Bureau of Statistics titled “Nigerian Capital Importation” (Q1 & Q2 2021).
It stated that this represented a decrease of 54.06% compared to Q1 2021 and 32.38% decrease scores to the second quarter of 2020.
The highest amount of capital importation was received through portfolio investment which was 62.97% ($551.37) of the total capital importation.
This followed other investment that accounted for 28.13% ($246.27m) of total capital imported and Foreign Direct Investment (FDI), which accounted for about 8.9% ($77.97m) of total capital imported in Q2, 2021.
Capital importation by banking sector dominated in Q2, 2021 reaching ($296.51m) of the total capital importation in Q2, 2021. The United Kingdom surfaced as the top source of capital investment in Nigeria in Q2, 2021 with $310.26m which accounted for 35.43% of the total capital inflow in Q2, 2021.
Meanwhile, Lagos state emerged as the top destination of capital investment in Nigeria Q2, 2021 with $780.06m.
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