Capital Importation Drops to $1.2bn in Q2

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By James Emejo

The total value of capital importation into the country fell drastically to $1.29 billion in the second quarter of the year (Q2 2020), compared to $5.85 billion in the preceding quarter, the National Bureau of Statistics (NBS) stated Friday.

This represented a contraction of 78 per cent compared to Q1 and 79 per cent compared to Q2 2019.

According to the Nigerian Capital Importation – Q2 2020 report released Friday, other investment accounted for the largest capital inflow with $761.03 million or 58.77 per cent of total capital imported.

This was followed by portfolio investment, which accounted for $385.32 million, representing 29.76 per cent of inflows, while Foreign Direct Investment (FDI), which accounted for $148.59 million or 11.47 per cent of total capital imported within the review period.

By sector, capital importation by shares dominated the Q2 results with $464.57 million.

The United Kingdom however, maintained its lead as the top source of capital investment to the country with $428.83 million or 33.12 per cent of the total capital inflow in Q2.

Details later….