Capital imports into Nigeria declines by $79m

Data made available by the National Bureau of Statistics show that the total value of capital imported into the country in the second quarter of the year was $5.5 billion.

This is 12.53% lesser than the capital importation recorded in the first quarter and an increase of 207.62% when compared to the second quarter of 2017.

The bureau made this known in the Nigeria Capital Importation (Q2 2018) report released on Monday.

According to the bureau, flighty portfolio investors accounted for 74.7% of the total capital imported.

The report said the decline recorded in the second quarter is due to a decline in portfolio investment and other investments, which declined by 9.76% and 24.07% respectively.

It said the largest amount of capital importation by type was received through portfolio investment.

“This accounted for 74.7% ($4.119 billion) of total capital importation, followed by other investment, which accounted for 20.5% ($1.132 billion) of total capital.

“This is followed by foreign direct investment (FDI), which accounted for 4.7% ($261.4 million) of total capital imported in the second quarter.