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Tuesday, June 28, 2022

Lagos Receives Largest Share as Capital Importation Slumps -77.8% in Q2

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The total value of capital importation into Nigeria stood at $1.29 billion in the second quarter (Q2) of 2020, the National Bureau of Statistics (NBS) said today.

This represents a decrease of -77.88 percent compared to Q1 2020 and -78.60 percent compared to Q2 2019. By Destination of Investment, Lagos state emerged as the top destination of capital investment in Nigeria in Q2 2020 with $1.13 billion.

This accounted for 87.30 percent of the total capital inflow in Q2 2020.

The largest amount of capital importation by type was received through Other investment, which accounted for 58.77 percent ($761.03m) of total capital imported, followed by Portfolio Investment, which accounted for 29.76 percent ($385.32m) and Foreign Direct Investment (FDI), which accounted for 11.47 percent ($148.59m) of total capital imported in Q2 2020.

By sector, Capital importation by Shares dominated in Q2 2020 reaching $464.57m of the total capital importation in Q2 2020.

The United Kingdom emerged as the top source of capital investment to Nigeria in Q2 2020 with $428.83m. This accounted for 33.12 percent of the total capital inflow in Q2 2020.

By Bank, Standard Chartered Bank Nigeria Limited emerged at the top of capital investment in Nigeria in Q2 2020 with $425.21m.

This accounted for 32.84 percent of the total capital inflow in Q2 2020.

 

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