The total value of capital importation into Nigeria stood at $5.854.38m in the first quarter of 2020, according to recent data released by the National Bureau of Statistics (NBS).
According to the NBS, the total value represents an increase of 53.97% compared to Q4 2019 and -31.19% decrease compared to the first quarter of 2019.
The largest amount of capital importation by type was received through Portfolio investment, which accounted for 73.61% ($4,309.47m) of total capital importation followed by Other Investment, which accounted for 22.73% ($1.330.65m) of total capital, and then Foreign Direct Investment FDI, which accounted for 3.66% ($214.25m)of total capital imported in Q1 2020.
By sector, Capital importation by banking dominated Q1 2020 reaching $2.990.21m of the total capital importation Q1 2020.
The United Kingdom emerged as the top source of capital investment in Nigeria in Q1 2020 with $2,908.62m. This accounted for 49.68%of the total capital inflow in Q1 2020.
By Destination of Investment, Lagos State emerged as the top destination of capital investment in Nigeria in Q1 2019 with $5,135 49m. This accounted for 87.72% of the total capital inflow in Q1 2020.
By Bank Standard Chartered Bank Nigeria Limited emerged at the top of capital investment in Nigeria in Q12020 with $1,656 60m. This accounted for 28 30% of the total capital inflow in Q1 2020