From Isaac Anumihe, Abuja
National Bureau of Statistics (NBS), yesterday, said that the total value of capital importation into Nigeria in the fourth quarter of 2021 stood at $2.187.63 million from $1.731.37 million in the preceding quarter showing an increase of 26.35 per cent.
According to a statement obtained from NBS website, when compared to the corresponding quarter of 2020, capital importation increased by 109.28 per cent from $1,045.32 million. The largest amount of capital importation by type, the statement further explained, was received through Other Investment, which accounted for 54.24 per cent ($1,186.53 million).
“This was followed by Portfolio Investment with 29.39 per cent ($642.87 million) and Foreign Direct Investment (FDI) amounted to 16.38 per cent ($358.23 million) of total capital imported in Q4 2021.
“Disaggregated by sectors, capital importation into tanning had the highest inflow of $645.59 million amounting to 29.51 per cent of total capital imported in the fourth quarter of 2021. This was followed by capital imported into the production sector, valued at $360.06 million (16.46 per cent) and the electricals sector with $325.55 million (14.88 per cent).
“Capital importation by country of origin reveals that Mauritius ranked top as source of capital imported into Nigeria in the fourth quarter of 2021 with a value of $611.45 million, accounting for 27.95 per cent. This was followed by the United States of America and the Republic of South Africa valued at $321.03 million (14.67 per cent) and $285.83 million (13.07 per cent) respectively” the statement also noted.
However, by destination of investment, Lagos State remained the top destination in Q4 2021 with $1,983.41 million accounting for 90.66 per cent of total capital investment in Nigeria. This was followed by investment into Abuja (FCT), valued at $170.55 million (7.80 per cent).
“Categorisations of total capital investment by bank shows that Eco Bank Plc ranked highest in Q4 2021 with $708.58 million (32.39 per cent) . This was followed by Stanbic IBTC Bank with $453.82 million (20.74 per cent) and Union Bank of Nigeria Plc with $284.60 million (13.01 per cent)” NBS said.