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Nigeria’s capital importation rises to $1.73bn in Q3 of 2021 -NBS

Felix Oloyede

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Nigeria's capital importation rises to $1.73bn in Q3 of 2021 -NBS

The National Bureau of Statistics, NBS says capital importation rose sharply, quarter-on-quarter (QoQ) by 97 per cent to $1.73b in the third quarter of 2021 from $875.62 million in the previous quarter.

In its Capital Importation Report for Q3’21 released yesterday, the NBS disclosed that the largest amount of capital importation by type was received through portfolio investment, which accounted for 70.3 per cent ($1.21 billion) of total capital importation.

The report stated: ”The total value of capital importation into Nigeria in the third quarter of 2021 stood at $1.73 billion from $875.62 million in the preceding quarter of 2021, showing an increase of 97.7 per cent.

“When compared to the corresponding quarter of 2020, capital importation as well increased by 18.4 per cent from $1.46 billion.

“The largest amount of capital importation by type was received through portfolio investment, which accounted for 70.30 per cent ($1.21 billion) of total capital importation. “This was followed by other investment, which accounted for 23.4 per cent ($406.35 million) and Foreign Direct Investment (FDI) amounted to 6.23 per cent ($107.81 million) of total capital imported in Q3 2021.”

On capital importation by sector, NBS said: “Capital importation into financing had the highest inflow of $469.17 million amounting to 27 per cent of total capital imported in the third quarter of 2021. This was closely followed by capital imported into the banking sector valued at $460.39 million (26.59%) and the production sector $323.83 million (18.7%).

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