NBS: Nigeria’s capital importation stood at $1.46bn in Q3

Nigeria’s total value of capital importation stood at $1.46bn in the third quarter of 2020, the National Bureau of Statistics said in its ‘Nigerian Capital Importation, Quarter Three (Q3), 2020’ report released on Tuesday.

The report showed that the figure represented an increase of 12.86 per cent relative to Q2 2020 and -74.03 per cent decrease compared to Q3 2019.

Capital importation received by type was largest through other investment, which accounted for 43.75 per cent or $639.44m of the total sum, followed by foreign direct investment, which accounted for 28.38 per cent or $414.79m of total capital imported, while portfolio investment came behind by 27.87 per cent or $407.25m.

The United Kingdom was the top source of capital investment in Q3 2020 with $594.65m or 40.69 per cent of the total capital inflow.

By sector, NBS stated that capital importation by production dominated in the review quarter reaching $400.09m of the total capital importation.

Also, by destination of investment, Lagos emerged as the top destination of capital investment with $1.208m or 82.71 per cent of the total capital inflow.

Ehime Alex
Ehime Alex
Ehime Alex reports the Capital Market, Energy, and ICT. He is a skilled webmaster and digital media enthusiast.

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