The Nigeria Bureau of Statistics (NBS) has disclosed that Nigeria saw more capital investments from the United Kingdom for the second quarter of 2021.
This was disclosed in its Nigerian Capital Importation Q1/Q2 2021 report, noting that the country’s capital importation saw a 54 percent decline.
“The United Kingdom emerged as the top source of capital investment in Nigeria in Q2’21 with $310.26 million. This accounted for 35 percent of the total capital inflow in Q2’21,” the report read.
It noted that Nigeria’s Capital Importation fell to $296.51 million in the second quarter of 2021.
The report said, “The total value of capital importation into Nigeria declined to $875.62 million in Q2’21 from $1.9 billion in Q1’21.
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“The largest amount of capital importation by type was received through Portfolio investment, which accounted for 63 percent ($551.37 million) of total capital importation, followed by Other Investment, which accounted for 28 percent ($246.27 million) of total capital imported and Foreign Direct Investment (FDI), which
accounted for 8.9 percent ($77.97 million) of total capital imported in Q2’21.
“By sector, Capital importation by Banking dominated in Q2’21 reaching $296.51million of the total capital importation in Q2’21.”
Topping the list of destinations of investment by states, Lagos emerged at the top with $780.06 million, according to the report.
It added, “This accounted for 89 percent of the total capital inflow in Q2’21.
“By Bank, Stanbic IBTC Bank Plc emerged at the top of capital investment in Nigeria in Q2’21 with $310.21million. This accounted for 35 percent of the total capital inflow in Q2’21.”
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