Capital importation into Nigeria rises by rises by 97.73 per cent, hits $1.7bn

The National Bureau of Statistics (NBS) on Friday said the total value of capital importation into Nigeria was $1.7billion in third quarter of 2021 (Q3 2021).

It rose by 97.73 per cent from the $875.62 million of the preceding quarter.

This is according to the bureau’s document titled: “Nigerian Capital Importation Q3 2021.”

The total value of capital importation into Nigeria in the third quarter of 2021 stood at $1.731 billion from $875.62 million in the preceding quarter of 2021.

There was an increase of 97.73 per cent when compared to the corresponding quarter of 2020.

Capital importation also increased by 18.47 per cent from $1,461.49 million.

The bureau noted that the largest amount of capital importation by type was received through portfolio investment.

It accounted for 70.30 per cent ($1,217.21 million) of total capital importation.

NBS said this was followed by Other Investment, which accounted for 23.47 per cent ($406.35 million).

Foreign Direct Investment (FDI) amounted to 6.23 per cent ($107.81 million) of