The National Bureau of Statistics (NBS) says Nigeria’s
capital importation declined by 59.65 per cent at $9.68 billion in 2020 to hit
the lowest level in four years.
NBS, in its latest “Nigerian Capital Importation Q4 and Full
Year 2020” said total capital importation in the fourth quarter (Q4 2020) stood
at $1.06 billion, down by 26.81 per cent compared to third quarter (Q3 2020)
and by 71.87 per cent when compared to the same period in 2019.
The report noted that the largest amount of capital
importation by type was received through other investment, which accounted for
73.22 per cent at $783.26m of total capital importation.
Also Foreign Direct Investment(FDI), which accounted for
23.49 per cent at $251.27m of total capital imported and Portfolio Investment
which accounted for a meagre 3.29 per cent at $35.15m of total capital imported
in Q4 2020.
Further analysis of the report shows that the United Kingdom
emerged as the top source of capital investment in Nigeria in Q4 2020 with
$236.88m. This accounted for 22.14 per cent of the total capital inflow in Q4
2020.
By destination of investment, Lagos state, Nigeria’s
commercial hub, emerged as the top destination of capital investment in Nigeria
in Q4 2020 with $829.64m. This accounted for 77.56 per cent of the total
capital inflow in Q4 2020.
By Bank, Citibank Nigeria Limited emerged at the top of
capital investment in Nigeria in Q4 2020 with $216.17m. This accounted for
20.21 per cent of the total capital inflow in Q4 2020.
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