By Victory Oduneye
Nigeria has recorded a lose of $14,309.56 million in the capital market Importation value.
The total value which stood at $9,680.49 million in 2020, was $23,990.05 million in 2019, representing a decline of -59.65% between the two periods.
The National Bureau of Statistics, NBS disclosed this in a report released on Friday.
It reported that “the total value of capital importation into Nigeria stood at $1,069.68m in the fourth quarter of 2020, which represents a decrease of -26.81% compared to Q3 2020 and -71.87% decrease compared to the fourth quarter of 2019.”
However, “the largest amount of capital importation by type was received through Other investment, which accounted for 73.22% ($783.26m) of total capital importation, followed by Foreign Direct Investment (FDI), which accounted for 23.49% ($251.27m) of total capital imported and Portfolio Investment which accounted for 3.29% ($35.15m) of total capital imported in Q4 2020.
“By sector, Capital importation by Shares dominated in Q4 2020 reaching $287.04m of the total capital importation in Q4 2020.
“The United Kingdom emerged as the top source of capital investment in Nigeria in Q4 2020 with $236.88m. This accounted for 22.14% of the total capital inflow in Q4 2020.
“By destination of Investment, Lagos state emerged as the top destination of capital investment in Nigeria in Q4 2020 with $829.64m. This accounted for 77.56% of the total capital inflow in Q4 2020.
“By Bank, Citibank Nigeria Limited emerged at the top of capital investment in Nigeria in Q4 2020 with $216.17m. This accounted for 20.21% of the total capital inflow in Q4 2020.” It stated.
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