Post Views: 290 The National Bureau of Statistics (NBS), on Tuesday released the 2018Q3 Capital Importation Report showing total value of capital impo...
The National Bureau of Statistics (NBS), on Tuesday released the 2018Q3 Capital Importation Report showing total value of capital imported into Nigeria stood at $2.855bn in the third quarter of 2018, representing a 48.21% decline when compared to the $5.51bn in 2018 Q2 and 31.12% drop from the $4.14bn of the third quarter of 2017.
At $1.723bn, portfolio investment remained the largest amount of capital received by type, representing 60.5% of total capital importation, followed by Other Investment, which accounted for $601.53m, or 21.07% of total capital, while Foreign Direct Investment FDI accounted for $530.63m, or 18.58% of total.
Comparatively, FDI, all of which was mostly equity investment, jumped quarter-on-quarter by 103.03% from $261.62m; and 351.23% year-on-year; while portfolio investment represented a 58.17% slump from $4.119bn, or 58.17% QoQ and 37.74% YoY. The lion’s share of this was in money market instruments which accounted for $1.291bn, down by 51.66% QoQ from $2.67bn; while growing 79.34% YoY. Equity investment followed with $394.47m, down 62.37% from $1.048bn in 2018Q2; and 79.58% YoY; just as investments in bonds at $37.48m suffered 90.63% QoQ decline from $400.14m; and 67.54% YoY.
A breakdown by sector showed that “capital importation as shares, which is closely related to Equity investment (FDI and Portfolio Investment) dominated the third quarter of 2018, reaching $1,667.76 of the total capital Importation in the quarter.”
It was followed from afar by financing, $371.6m; banking, $289.44m; production, $230.34m; as well servicing, $205.91m, among others.
According to the NBS reported, the United States emerged top source of capital investment in Nigeria in the third quarter of 2018 with $911.33m, accounting for 31.91% of total capital inflow in the period under review.
The UK followed with $871.147m; South Africa, $153.745m; Belgium, $144.843m; Netherlands, $135.066m; and United Arab Emirates, $125.212m.