By Isa Amodu
Nigeria’s National Bureau of Statistics (NBS) on Monday said the investment inflows into Nigeria dropped by $460m from $5.82bn in the second quarter of this year to $5.36bn in the third quarter of the year.
This is the lowest amount of capital importation received in the year.
“The largest amount of capital importation by type was received through Portfolio investment, which accounted for 55.88% ($2,999.50m) of total capital importation, followed by Other Investment, which accounted for 40.39% ($2.167.98m) of total capital, and then Foreign Direct Investment FDI, which accounted for 3.73% ($200.08m) of total capital imported in Q3 2019,” NBS said in the report.
This is followed by Other Investment, which accounted for $2.16bn or 40.39 per cent of total capital, while Foreign Direct Investment accounted for $200.08m or 3.73 per cent of total capital imported in the third quarter of this year.
The report revealed that the third quarter inflow of $5.367bn represents a decrease of 7.78 per cent when compared to the second-quarter figure of $5.820bn.