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Nigeria’s capital importation down to $875.62mn in six moths- NBS
The total value of capital importation into Nigeria declined to $875.62 million in the second quarter of 2021 (Q2, 2021) from $1,905.89 million in the first quarter of 2021 (Q1, 2021), representing a decrease of -54.06% compared to Q1 2021 and -32.38% decrease compared to the second quarter of 2020, the National Bureau of Statistics (NBS) latest report has shown.
According to the NBS, the largest amount of capital importation by type was received through portfolio investment, which accounted for 62.97% ($551.37 million) of total capital importation, followed by Other Investment, which accounted for 28.13% ($246.27 million) of total capital imported and Foreign Direct Investment (FDI), which accounted for 8.90% ($77.97 million) of total capital imported in Q2 2021.
By sector, Capital importation by Banking dominated in Q2 2021 reaching $296.51 million of the total capital importation in Q2 2021.
The United Kingdom emerged as the top source of capital investment in Nigeria in Q2 2021 with $310.26 million. This accounted for 35.43% of the total capital inflow in Q2 2021.
By Destination of Investment, Lagos State emerged as the top destination of capital investment in Nigeria in Q2 2021 with $780.06 million. This accounted for 89.09% of the total capital inflow in Q2 2021.
By Bank, Stanbic IBTC Bank Plc emerged at the top of capital investment in Nigeria in Q2 2021 with $310.21 million. This accounted for 35.43% of the total capital inflow in Q2 2021.
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