The total value of capital importation into Nigeria in the first quarter (Q1) of 2022 decreased by 17.46% from US$1.9 billion, when compared to the corresponding quarter of 2021.
Capital imports stood at US$1.57billion when compared to the preceding quarter showing a decrease of 28.09%, from US$2.18 billion, according to the latest data from the National Bureau of Statistics (NBS).
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.
Disaggregated by Sectors, capital importation into banking had the highest inflow of US$818.84 million amounting for 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%).
Capital Importation by Country of Origin reveals that the United Kingdom ranked top as the source of capital imported into Nigeria in the first quarter of 2022 with a value of US$1.021 billion, 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.