The National Bureau of Statistics (NBS), on Thursday released the 2017Q4 capital importation report showing that inflows for the period stood at $5.32bn, representing a 29.8% increase over that of the preceding quarter, but 247.5% above the corresponding period of 2016.
This brought inflow for the full year to $12.2bn, up by 138.6% from the $5.38bn recorded for 2016, with the UK, U.S and Belgium as the highest origin of the inflows.
By banks, Stanbic IBTC accounted for $2.73bn or 50.73% of the Q4 total; followed from afar by Standard Chartered Bank’s $811.025m or 15.07%; ahead of Zenith Bank’s $444.819m or 8.26%; and Citibank with $378.193m or 7.03%, among others.
Also in the 2017 full year, portfolio investment was the biggest contributor, attracting $7.329bn, an increase of 304.28% to $7.329bn from $1.812bn; followed by $3.637bn for equity investments, representing 323.41% from $859.06m; investments in bonds increased by 21.96% from $396.9m to $482.84m; while money market instruments grew the most, rising by 475.15% to $3.208bn from just $557.92m in 2016.
Foreign Direct Investment for the year dropped by 5.96% from $981.75m from $1.044bn total for 2016; led by the $979.44m for equity investment, representing a 6.11% contraction from the prior year’s $1.043bn; while other FDI grew to $2.32m, representing 163.64% growth from just $0.88m in 2016.
Other investment contributed $3.917bn, 72.8% above the $2.267bn in 2016; followed by the 6,150% growth in inflow in the form of trade credits from $0.16m to $10m over the period.
Loans rose by 41.27% to $3.164bn from $2.24bn; currency deposits grew by 11,633.33% to $3.52m, up from just $0.03m; while other claims jumped by 2,646.38% from $26.93m to $739.6m.