Of the decreased total capital importation into the country of $5,367.56 millioan in the third quarter of 2019, the largest amount of $2,999.50 million or 55 percent was received through portfolio investments, exposing the fragility of the economyThis represents a decrease of -7.78% compared to Q2 2019 and 87.99% increase compared to the third quarter of last year.
It was followed by Other Investments, which accounted for 40.39% ($2.167.98m) of total capital, and then Foreign Direct Investment FDI, the most dedired gor the economy which accounted for a mere 3.73% ($200.08m) of total capital imported in Q3 2019.
These were contained in Nigerian Capital Importation data released for Q3 2019 by the National Bureau of Statistics (NBS).
By sector, Capital importation by banking dominated Q3 2019 reaching $1,756.83 million of the total capital importation in Q3 2019.
The United Kingdom emerged as the top source of capital investment in Nigeria in Q3 2019 with $2,011.14 million. This accounted for 37.47% of the total capital inflow in Q3 2019.
By Destination of Investment, Lagos state emerged as the top destination of capital investment in Nigeria in Q3 2019 with $4,976.40 million. This accounted for 92.71% of the total capital inflow in Q3 2019.
By Bank, Stanbic IBTC Bank Plc emerged at the top of capital investment in Nigeria in Q3 2019 with $1,630.91 million. This accounted for 30.38% of the total capital inflow in Q3 2019.
