By Anthony Okafor
The National Bureau of Statistics (NBS) has said that the nation’s capital importation, rose by 38 percent, Year-on Year (YoY), to $16.8 billion ending December 31, 2018.
The NBS in its Capital Importation report for the fourth quarter of 2018, Q4’18, and full year, stated that, the country’s capital importation rose by 38 percent to $16.8 billion in December 2018 from $12.2 billion in December 2017.
On quarterly basis, the Statistical agency noted that capital importation stood at $6.3 billion in the first quarter of 2018 (Q1’18) from where it nosedived by 66 percent to $2 billion in Q4’18.
The bureau further noted that the United Kingdom emerged as the top source of capital investment in Nigeria in 2018 with $6 billion, representing 36 percent of the total capital inflow during the period under review.
The report stated: “The total value of capital importation into Nigeria stood at $2.14 billion in the Q4’18. This represents a decrease of 25.05 percent compared to Q3 2018 and 60.24 percent decrease compared to the fourth quarter of 2017.
“Similarly, the total value of capital importation into Nigeria stood at $16,812.47 million in 2018 compared to $12.23 billion capital imported in 2017. This represents 37.49 percent growth YoY.
“The largest amount of capital importation by type was received through Portfolio investment, which accounted for 70.20 percent ($11.8 billion) of total capital importation, followed by Other Investment, which accounted for 22.69 percent ($3.8) of total capital, and then Foreign Direct Investment ( FDI) which accounted for 7.11 percent ($1.2 billion) of total capital imported in 2018.
“By sector, Capital importation by shares, which is closely related to Equity investment (FDI and Portfolio Investment) dominated 2018 reaching $10.4 billion of the total capital Importation in 2018.
“The United Kingdom emerged as the top source of capital investment in Nigeria in 2018 with $6 billion. This accounted for 35.74 percent of the total capital inflow in 2018”.