The National Bureau of Statistics has said the total value of capital importation into Nigeria in the second quarter of 2019 was $5.820bn, representing a decline of -31.41 per cent compared to the first quarter.
The NBS disclosed this in its, “Nigerian Capital Importation, Quarter Two, 2019” report released and obtained from its official website by FinancialStreet.ng.
The bureau, however, said that the figure showed a +5.56 per cent increase compared to the second quarter of 2018.
It said that the largest amount of capital importation by type was received through the portfolio investment, which accounted for 73.76 per cent which was $4.292bn of total capital importation.
“This was followed by other investment, which accounted for 22.41 per cent ($1.304bn) of total capital imported and Foreign Direct Investment, which accounted for 3.83 per cent ($222.89m) of total capital imported in quarter two, 2019.
Sectorial analysis of the NBS report showed that capital importation by banking dominated in quarter two, 2019 reaching $1.892bn of the total capital importation in quarter two, 2019.”
The NBS said that the United Kingdom emerged as the top source of capital investment in Nigeria in the second quarter with $3.13bn, accounting for 53.85 per cent of the total capital inflow.
The second on the list of top 10 was the United States, with a capital investment of $1.15bn.
This was followed by United Arab Emirates, with a capital investment of $343.59m and South Africa with a capital investment of $314.16m in the quarter under review.
It also said that by Destination of Investment, Lagos state emerged as the top destination of capital investment in Nigeria in the period under review with $4.13bn, accounting for 71.09 per cent of the total capital inflow.
The statics by bank, showed Stanbic IBTC Bank Plc emerged at the top of capital investment in Nigeria in the second quarter with $1.76bn, accounting for 30.34 per cent of the total capital inflow in that quarter.