Going by the capital importation report released on Thursday by the National Bureau of Statistics (NBS), the value of capital inflow into the Nigeria economy stood at $5.82 billion in the second quarter of this year.

The total value of capital importation into Nigeria stood at $5,820.21m in the second quarter of 2019. This represents a decrease of -31.41% compared to Q1 2019 and +5.56% increase compared to the second quarter of 2018.

The largest amount of capital importation by type was received through portfolio investment, which accounted for 73.76% ($4,292.89m) of total capital importation, followed by Other Investment, which accounted for 22.41% ($1,304.43m) of total capital imported and Foreign Direct Investment (FDI), which accounted for 3.83% ($222.89m) of total capital imported in Q2 2019.

By sector, Capital importation by banking dominated in Q2 2019 reaching $1,892.50m of the total capital importation in Q2 2019.

The United Kingdom emerged as the top source of capital investment in Nigeria in Q2 2019 with $3,134.47m. This accounted for 53.85% of the total capital inflow in Q2 2019.

By Destination of Investment, Lagos state emerged as the top destination of capital investment in Nigeria in Q2 2019 with $4,137.66m. This accounted for 71.09% of the total capital inflow in Q2 2019.

By Bank, Stanbic IBTC Bank Plc emerged at the top of capital investment in Nigeria in Q2 2019 with $1,765.64 million. This accounted for 30.34% of the total capital inflow in Q2 2019.

SOURCE:https://brandspurng.com/2019/09/06/nigeria-capital-importation-drops-by-31-41-in-q2-2019-nbs/