Nigeria recorded $1,060 billion capital importation in the fourth quarter 2022, the National Bureau of Statistics (NBS), reported on Wednesday.
According to NBS, the Q4 figure was lower than the $2,187.63 million recorded in Q4 2021, indicating a decrease of 51.51 percent.
“When compared to the preceding quarter, capital importation also fell by 8.53 percent from $1,159.67 million in Q3 2022.”
It said the largest capital importation during the period was received from other investments, which accounted for 65.17 percent ($691.23 million) of total capital imported in Q4 2022.
The report said this was followed by Portfolio Investment with 26.89 percent ($285.26 million) and Foreign Direct Investments (FDIs) with 7.94 percent ($184.23 million).
“Disaggregated by Sectors, capital importation into the production sector recorded the highest inflow of $392.54 million, representing 37.01 percent of total capital imported in Q4 2022.
“This was followed by capital imported into the banking sector, valued at $255.45 million (24.08 percent), and Telecoms with $168.27 million (15.86 percent).”
The NBS said Capital Importation by Country of Origin reveals that capital from the United Kingdom ranked top in Q4 2022 with $455.24 million, accounting for 42.92 percent.
The report said this was followed by the Republic of South Africa and the United Arab Emirates valued at $119.31 million (11.25 percent) and $116.82 million (11.01 percent), respectively.
By Destination of Investment, it said Lagos state remained the top destination in Q4 2022 with $600.54 million, accounting for 56.62 percent of total capital investment in Nigeria.
The report said this was followed by Abuja (FCT), valued at $424.50 million (40.02 percent).
It said Categorisation of Capital Importation by banks shows that Citibank Nigeria Limited ranked top in Q4 2022 with $308.72 million (29.10 percent).
“This was followed by Standard Chartered Bank Nigeria Limited with $232.45 million (21.91 percent) and Rand Merchant Bank with $102.00 million (9.62 percent).
It, however, said on an annual basis, capital importation was $5,328.88 million in 2022, showing a decrease of 20.47 percent from $6,700.51 million in 2021.”
Similarly, the total value of capital importation into Nigeria in Q3 2022 stood at $1,159.67 million from $1,731.37 million in Q3 2021.
The Nigeria Capital Importation report for Q3 2022 said the figure indicated a decrease of 33.02 percent.
“When compared to the preceding quarter, capital importation fell by 24.47 percent from $1,535.35 million in Q2 2022.’’
It said the largest capital importation in Q3 2022 was received through other investments, which accounted for 54.83 percent ($635.87 million).
“This was followed by Portfolio Investment with 38.12 percent ($442.08 million) and Foreign Direct Investments (FDIs) with 7.05 percent ($81.72 million).’’
Disaggregated by Sectors, the report showed that capital importation into banking had the highest inflow of $368.95 million, representing 31.82 percent of total capital imported in Q3 2022.
“This was followed by the financing sector, valued at $314.90 million (27.15 percent), and capital importation in shares with $104.58 million (9.02 percent).’’
The report said Capital Importation by Country of Origin revealed that capital from the United Kingdom ranked top in Q3 2022 with $506.87 million, accounting for 43.7 percent.
It said this was followed by Singapore and Hong Kong valued at $184.86 million (15.94 percent) and 106.39 million dollars (9.17 percent).
By Destination of Investment, the report showed Lagos state remained the top destination in Q3 2022 with $839.71 million, accounting for 72.41 percent of total capital investment in Nigeria.
It said this was followed by Abuja (FCT), valued at $303.81 million representing 26.20 percent.
The NBS said Categorisation of Capital Importation by banks showed that Stanbic IBTC Bank Plc ranked top in Q3 2022 with $301.84 million representing 26.03 percent.
“This was followed by Citibank Nigeria Limited with $274.19 million (23.64 percent) and Standard Chartered Bank Nigeria Limited with $233.34 million (20.12 percent).
