The National Bureau of Statistics (NBS) on Tuesday reported a huge decline in the value of capital imported into the country in the third quarter of this year when compared with the preceding quarter’s importation.
Specifically, the Bureau puts the total value of capital importation into Nigeria during the review period as $2,855.21 million, representing a decrease of 48.21% compared to the Q2 value and a 31.12% decrease compared to the third quarter of 2017.
According to the data provided on the capital importation value on the basis of importation by type, the largest value was recorded in Portfolio investment, which accounted for 60.5% or $1,723.05 million, followed by Other Investment, which accounted for 21.07% with total value standing at $601.53 million of total capital imported during the quarter.
This is even as Foreign Direct Investment (FDI) accounted for 18.58% or $530.63 million of the total capital imported in the quarter under review.
A further analysis of the capital importation by sector showed that Capital importation as shares, which is closely related to Equity investment (FDI and Portfolio Investment) accounted for the largest value in the third quarter, peaking at $1,667.76 million.
Other sectors’ importation value are Servicing, $20.91 million; Banking, $289.44 million; Financing $371.60 million; and Production, $230.34 million, amongst others.
The United States emerged as the top source of capital investment in Nigeria in the third quarter of 2018 with $911.33 million, representing 31.91% of the total capital inflow while the United Kingdom provided $871.147 million as capital investment in the country.
South Africa exported $153745 million worth of capital to Nigeria during the review period compared with Belgium’s $144.848 million.
At the lowest end of the capital importation chart are Norway with the least capital importation value of $0.002 million, followed by Kenya, $0.023 million; Portugal with $0.112 million and Italy whose total capital export to Nigeria stood at $0.437 million in the third quarter of this year.
