by Dennis Amata

The total value of capital importation into Nigeria in the second quarter of 2022 was only $1.56 billion. This is a 2.40% decrease from the $1.57 billion recorded in the first quarter of the year.

However, year-on-year, capital importation increased by 75.34%. This is disclosed in the Q2 2022 capital importation report published by the National Bureau of Statistics on Wednesday.

Capital importation is foreign investments into a nation’s economy and are necessary for economic growth as it enables rapid investment.

In Q2 2022, the total capital import stood at $1.56 billion which is a drop from Q1, 2022.

Of the 3 categories of investment that make up capital importation, Portfolio Investment, accounted for 49.33% of the total value of capital importation that came into Nigeria in the second quarter, while other investment contributed 41.09%.

On the other hand, Foreign Direct Investment (FDI) accounted for only 9.58% of the total capital import.

It is worth noting that only “other investments” recorded positive growth in the second quarter.

Continue reading: https://www.dataphyte.com/latest-reports/finance/in-q2-2022-capital-importation-into-nigeria-dropped-by-2-40/

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