According to Nigeria’s National Bureau of Statistics (NBS), investment inflows into Nigeria declined by USD 460 Mn in the third quarter of 2019.
Investment inflows fell to USD 5.36 Bn in Q3 2019 from the USD 5.82 Bn recorded in the second quarter of this year.
The NBS made this known in its Capital Importation Report which was released on Monday, stating that the third quarter inflow of USD 5.36 Bn represents a decline of 7.78 percent when compared to the second-quarter figure of USD 5.82 Bn.
As per the latest Capital Importation Report of the NBS, the largest amount of capital importation was received through Portfolio Investment, which accounted for USD 2.99 Bn representing 55.88 percent of total capital importation.
Seconding Portfolio Investment is “Other Investment” which accounted for USD 2.16 Bn or 40.39 percent of total capital, while Foreign Direct Investment (FDI) weighed in with just USD 200.08 Mn or 3.73 percent of all the capital imported in Q3 2019.
By sector, Capital importation by banking dominated Q3 2019 reaching USD 1.7 Bn of the total capital importation in Q3 2019.
The United Kingdom emerged as the top source of capital investment in Nigeria in Q3 2019 with USD 2.01 Bn. This accounted for 37.47 percent of the total capital inflow in Q3 2019.
By Bank, Stanbic IBTC Bank Plc emerged at the top of capital investment in Nigeria in Q3 2019 with USD 1.6 Bn. This accounted for 30.38 percent of the total capital inflow in Q3 2019.
By Destination of Investment, Lagos state emerged as the top destination of capital investment in Nigeria in Q3 2019 with USD 4.9 Bn. This accounted for 92.71 percent of the total capital inflow in Q3 2019.