Nigeria’s capital importation decreases to $2.85 billion in Q3 – NBS

The National Bureau of Statistics (NBS), says the total value of capital importation into Nigeria reduced to 2.855 billion dollars in the third quarter.

The NBS disclosed this in its “Nigeria Capital Importation (Q3 2018)’’ report released on Tuesday in Abuja.

According to the bureau, the figure represents a 48.21 per cent decrease compared to the second quarter and 31.12 per cent decrease compared to the third quarter of 2017.

It said the largest amount of capital importation by type was received through portfolio investment, which accounted for 60.5 per cent (1.723 billion dollars) of the total capital importation.

“This was followed by other investment, which accounts for 21.07 per cent (601.53 million dollars) of the total capital import in the period under review.

“And then Foreign Direct Investment (FDI) accounts for 18.58 per cent (530.63 million dollars) of the total capital imported in the third quarter.

According to the report, the capital importation as shares by sector, which is closely related to equity investment (FDI and Portfolio investment) dominated the third quarter.

It said the figure amounted to 1.667 billion of the total capital importation in the quarter.

It said the United States emerged as the top source of capital investment in Nigeria in the third quarter.

This, it noted, accounted for 31.91 per cent of the total capital inflow in the period under review. (NAN)