Nigeria Attracts $5.513b Capital Importation In Q2

The National Bureau of Statistics (NBS) has said in a report that Nigeria attracted $5.5 billion capital importation between April and June.

The NBS said flighty portfolio investors accounted for 74.7 per cent of the investment.

In its “Nigeria Capital Importation (Q2 2018)’’ report released yesterday in Abuja, the NBS noted that the value showed a 12.53 per cent decrease compared to the first quarter and a 207.62 per cent increase compared to the second quarter of 2017.

According to the bureau, the decline recorded in the second quarter is due to a decline in portfolio and other investments, which slid by 9.76per cent and 24.07per cent respectively.

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

“This accounted for 74.7per cent ($4.119 billion dollars) of total capital importation, followed by other Investment, which accounted for 20.5per cent ($1.132 billion dollars) of total capital.

“This is followed by Foreign Direct Investment FDI, which accounted for 4.7per cent ($261.4million dollars) of total capital imported in the second quarter.