The Nigerian capital importation recorded a negative growth in Q2 2020 with -77.88% decrease.
This was contained in quarterly data report released by the National Bureau of Statistics, NBS on Friday which out the total value of capital importation into Nigeria at $1,294.94m in the second quarter of 2020.
Tdecrease according to the report represents a decrease of -77.88% compared to Q1 2020 and -78.60% in Q2 2019. NBS said the largest amount of capital importation by type was received through Other investment, which accounted for 58.77% ($761.03m) of total capital imported, followed by Portfolio Investment, which accounted for 29.76% ($385.32m) and Foreign Direct Investment (FDI), which accounted for 11.47% ($148.59m) of total capital imported in Q2 2020.
By sector, Capital importation by Shares dominated in Q2 2020 reaching $464.57m of the total capital importation in Q2 2020. The bureau further said that United Kingdom emerged as the top source of capital investment to Nigeria in Q2 2020 with $428.83m.
This accounted for 33.12% of the total capital inflow in Q2 2020. By Destination of Investment, Lagos state emerged as the top destination of capital investment in Nigeria in Q2 2020 with $1,130.49m. This accounted for 87.30% of the total capital inflow in Q2 2020.
By Bank, Standard Chartered Bank Nigeria Limited stood at the top of capital investment in Nigeria in Q2 2020 with $425.21m. This accounted for 32.84% of the total capital inflow in Q2 2020.