Home Money Nigeria: Q4 2019 Capital Importation contracts by 32.42%

Nigeria: Q4 2019 Capital Importation contracts by 32.42%

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TUE, MARCH 10 2020-theG&BJournal- The total value of capital importation into Nigeria stood at $3,802.38 million in the fourth quarter of 2019, according to data released Tuesday by the National Bureau of Statistics (NBS).

‘’This represents a decline of 32.42% when compared to the 3rd Quarter of 2019, and a 77.67% increase when compared to the 4th quarter of 2018,’’ NBS said’’

Similarly, the total value of capital importation in 2019 stood at $23,990.05 million, compared to $16,812.47 million in 2018, representing a growth of 42.69% between the two periods.

In Q4 and full year 2019, the largest amount of capital importation by type was received through Foreign Portfolio Investment (FPI), followed by Other Investment and Foreign Direct Investment(FDI).

By sector, Shares dominated with the highest amount of capital imported in Q4 2019.

The United Kingdom emerged as the Country of origin with the highest amount of Capital Imported while Lagos is the destination with the highest amount of Capital Importation.

By Bank, Stanbic IBTC Bank Plc emerged as the bank with the highest amount of capital imported into Nigeria in Q4 and full year 2019 with $1,225.17 million and $8,625.21 for full year.

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