The National Bureau of Statistics has disclosed that the country’s capital importation drops by 31.19 per cent to $5.85billion in first quarter (Q1) of 2020 as against $8.51 billion reported in Q1 2019.
The Bureau in its “Nigerian Capital Importation Q1 2020” report stated that,“the largest amount of capital importation by type was received through Portfolio investment, which accounted for 73.61 per cent followed by
Other Investment, which accounted for 22.73 per cent of total capital, and then Foreign Direct Investment FDI, which accounted for 3.66 per cent of total capital imported in Q1 2020.
Banking sector accounted for the largest Capital importation in Q1 2020.
The United Kingdom emerged as the top source of capital investment in Nigeria which accounted for 49.68 per cent of the total capital inflow in Q1 2020.