Nigeria’s capital importation dips by 17.46% in Q1 2022

The total value of capital importation into Nigeria in the first quarter of 2022 stood at US$1,573.14 million from US$2,187.63 million in the preceding quarter showing a decrease of 28.09%, a report by the National Bureau of Statistics has shown.
According to the report, when compared to the corresponding quarter of 2021, capital importation decreased by 17.46% from US$1,905.89 million.
“The largest amount of capital importation by type was received through Portfolio Investment, which accounted for 60.87% ($957.58 million). This was followed by other Investment with 29.28% (US$460.59 million) and Foreign Direct Investment (FDI) accounted for 9.85% ($154.97 million) of total capital imported in Q1 2022,” the report said.
Also, when broken down into sectors, capital importation into banking had the highest inflow of US$818.84 million amounting to 52.05% of total capital imported in the first quarter of 2022.

“This was followed by capital imported into the production sector, valued at US$223.67 million (14.22%) and the financing sector with US$199.37 million (12.67%).”

The report further indicated that Capital Importation by Country of Origin placed the United Kingdom top as the source of capital imported into Nigeria in the first quarter of 2022 with a value of US$1.021.21 million, accounting for 64.92%.

“This was followed by the Republic of South Africa and the United States of America valued at US$117.50 million (7.47%) and US$82.07 million (5.22%) respectively.”