Capital Importation drops by 59.64 in 2020
The volume of capital imported into Nigeria in 2020 dropped by 59.65 percent in 2020 dropping from $23.99 billion in 2019 to $9.68 billion in 2020.
Data released by the National Bureau of Statistics (NBS) on Friday showed that the volume of capital imported into the country stood at $1,069.68m in the fourth quarter of 2020. This represents a decrease of -26.81% compared to Q3 2020 and -71.87% decrease compared to the fourth quarter of 2019.
The largest amount of capital importation by type was received through other investment, which accounted for 73.22% ($783.26m) of total capital importation, followed by Foreign Direct Investment (FDI), which accounted for 23.49% ($251.27m) of total capital imported and Portfolio Investment which accounted for 3.29% ($35.15m) of total capital imported in Q4 2020.
By sector, Capital importation by Shares dominated in Q4 2020 reaching $287.04m of the total capital importation in Q4 2020.
The United Kingdom emerged as the top source of capital investment in Nigeria in Q4 2020 with $236.88m. This accounted for 22.14% of the total capital inflow in Q4 2020.
By Destination of Investment, Lagos state emerged as the top destination of capital investment in Nigeria in Q4 2020 with $829.64m. This accounted for 77.56% of the total capital inflow in Q4 2020.
By Bank, Citibank Nigeria Limited emerged at the top of capital investment in Nigeria in Q4 2020 with $216.17m. This accounted for 20.21% of the total capital inflow in Q4 2020.