The National Bureau of Statistics (NBS) has published its report on capital importation for the second quarter of 2024, showing a 22.85% drop in capital importation compared to the first quarter.
In Nigeria, capital importation fell from $3.37 billion in the first quarter of 2024 to $2.60 billion in the second quarter. However, this amount is a substantial 152.8% higher than the $1.03 billion imported in the second quarter of 2023.
Portfolio Investment was the largest category, with $1.40 billion, making up 53.93% of total capital importation. Other Investment followed with $1.169 billion, accounting for 44.92%. Foreign Direct Investment (FDI) was the smallest, contributing $29.83 million, or 1.15%.
The banking sector attracted the most capital, with $1.12 billion (43.15%), followed by the Production/Manufacturing sector ($624.71 million, 23.99%) and the Trading sector ($569.22 million, 21.86%).
Most of the capital came from the United Kingdom ($1,120.15 million, 43.01%), the Netherlands ($577.82 million, 22.19%), and South Africa ($255.98 million, 9.83%).
