NBS: Capital Importation Dropped by $460m in Q3


James Emejo in Abuja

The National Bureau of Statistics (NBS) has revealed that the investment inflows into Nigeria declined by $460million from $5.82 billion in the second quarter of this year to $5.36 billion in the third quarter.

The NBS said this in its Capital Importation Report, which was released yesterday.

The new report stated that the third quarter inflow of $5.36 billion represented a decrease of 7.78 per cent when compared to the second-quarter figure of $5.82 billion.

The report said the largest amount of capital importation was received through portfolio investment, which accounted for $2.99 billion representing 55.88 per cent of total capital importation.

This is followed by Other Investment, which accounted for $2.16 billion or 40.39 per cent of total capital, while Foreign Direct Investment accounted for $200.08 million or 3.73 per cent of total capital imported in the third quarter of this year.