Nigeria’s capital importation rose by 198.06 per cent over the last 12 months buoyed by portfolio investments which contributed 61.48 per cent.
National Bureau of Statistics (NBS) in its Q1 2024 capital importation report shows that Nigeria’s total capital importation rose from $1,132.06 million in the first quarter of 2023 to $3,376.01 million in the first quarter of 2024, indicating an increase of 198.06 per cent over the 12 months.
In comparison to the preceding quarter, capital importation rose by 210.16 per cent from $1,088.48 million in Q4 2023.
NBS said that Portfolio Investment ranked top with $2,075.59 million, accounting for 61.48 per cent, followed by other Investments with $1,181.25 million, accounting for 34.99 per cent.
Foreign Direct Investment recorded the least with $119.18 million, accounting for only 3.53 per cent of total capital importation in Q1 2024.
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The report…
Source: Guardian Newspaper
