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Tag: Capital importation

  • Capital importation soars by 67%

    Capital importation soars by 67%

    • Abuja, Lagos, Ogun lead
    • Banks most attractive

    Capital inflows into the Nigerian economy rose to $5.6 billion in the first quarter 2025, an increase of 67.12 per cent over $3.4 billion recorded in comparable period of 2024.

    The “Nigeria Capital Importation Q1 2025” report released yesterday by the National Bureau of Statistics (NBS) indicated a steep increase in foreign capital inflows into the country, a major indicator of the macroeconomic outlook.

    The $5.642 billion recorded in first quarter 2025 represented an increase of 10.86 per cent on $5.089 billion recorded in fourth quarter 2024.

    Of the total investments, portfolio investment ranked top with $5.204 billion, followed by other investment at $311.17 million and foreign direct investment stood at $126.29 million.

    The highest inflow went to the banking sector with $3.127 billion, representing 55.44 per cent of total capital imported in first quarter 2025, followed by the financing sector, valued at $2097.48million or 37.18 per cent of total and production and manufacturing sector with $129.92 million or 2.30 per cent of total.

    The report showed that capital importation during the reference period originated largely from the United Kingdom with $3.681 billion, which is 65.26 per cent of the total capital imported.

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     This was followed by the Republic of South Africa with $501.29 million or 8.88 per cent of total and Mauritius with US$394.51 million or 6.99 per cent of total.

    Out of the five states that recorded capital importation during the quarter, Abuja (FCT) remained the top destination with $3.047 billion, accounting for 54.11 per cent of the total capital imported. Lagos State followed with $2.564 billion or 45.44 per cent of total, and Ogun state with $7.95million or 0.14 per cent of total. Others were Oyo and Kaduna States with $7.81 million and 4.06 million respectively.

    Standard Chartered Bank Nigeria Ltd received the highest capital importation into Nigeria in first quarter 2025 with $2.103 billion, followed by Stanbic IBTC Bank Plc with $1.398 billion and Citibank Nigeria Limited with $1.052 billion.

  • Capital importation declines to $654.65m – NBS

    Capital importation declines to $654.65m – NBS

    The National Bureau of Statistics (NBS) yesterday said Nigeria’s capital importation dipped by 43.55% to $654.65 million in the third quarter of 2023 (Q3 2023).

    This was contained in the Bureau’s report titled: “Nigeria Capital Importation Q3 2023,” which noted that the capital importation declined from the $1,159.67% recorded in Q3 2022.

    NBS said, “In Q3 2023, total capital importation into Nigeria stood at US$654.65 million, lower than US$1.159.67 billion recorded in Q3 2022, indicating a decline of 43.55%.”

    The report also noted that in comparison to the preceding quarter, capital importation fell by 36.45% from US$1.030.21 billion in Q2 2023.

    NBS noted that other Investment ranked top accounting for 77.56% (US$507.77 million) of total capital importation in Q3 2023, followed by Portfolio Investment with 13.31% (US$87.11 million) and Foreign Direct Investment (FDI) with 9.13% (US$59.77 million).

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    The report added that the production/manufacturing sector recorded the highest inflow with US$279.51 million, representing 42.70% of total capital imported in Q3 2023, followed by the financing sector, valued at US$127.93 million (19.54%), and Shares with US$85.49 million (13.06%).

    NBS said capital Importation during the reference period originated largely from the Netherlands with US$175.62 million, and recorded 26.83% share. This was followed by Singapore with US$79.15 million (12.09%) and the United States with US$67.04 million (10.24%).

    According to the data, Lagos state remained the top destination in Q3 2023 with US$308.83 million, accounting for 47.18% of total capital importation, followed by Abuja (FCT) with US$194.66 million (29.73%) and Abia state with US$150.09 million (22.93%).

    NBS noted that Stanbic IBTC Bank Plc received the highest capital importation into Nigeria in Q3 2023 with US$222.84 million (34.04%), followed by Citibank Nigeria Limited with US$190.03 million (29.03%) and Zenith Bank Plc with US$83.04 (12.68%).