Nigeria’s capital importation up by 37.49% in 2018 - NBS
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Nigeria’s capital importation up by 37.49% in 2018 - NBS

- The National Bureau of Statistics (NBS) said that the total value of capital importation into Nigeria stood at 16.81 billion dollars in 2018

- According to the NBS' report, posted on its website, the figures represented 37.49% growth in 2018

- The report also revealed that the total capital value represents a decrease of 25.05%

The National Bureau of Statistics (NBS) said the total value of capital importation into Nigeria stood at 16.81 billion dollars in 2018 compared to 12.22 billion dollars capital imported in 2017.

The bureau said the figures represented 37.49% growth year-on-year. The NBS disclosed this in Nigerian capital importation for fourth quarter and full year, 2018 report posted on its website, the News Agency of Nigeria (NAN) reports.

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Meanwhile, the bureau said Nigeria recorded a decline in the total value of capital importation into the country in the fourth quarter, 2018 which stood at 2.14 billion dollars.

According to the report, the total capital value represents a decrease of 25.05% compared to third quarter, 2018 and 60.24% decrease compared to the fourth quarter of 2017.

Capital Importation can be divided into three main investment types: Foreign Direct Investments (FDIs), Portfolio investments and other investments.

The largest amount of capital importation by type was received through Portfolio investments, which accounted for 70.20% (11.80 billion dollar) of total capital importation.

This was followed by other investments, which accounted for 22.69% (3.81 billion dollars) of total capital and FDIs which accounted for 7.11% (1.19 billion dollars) 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 10,425.18 dollars of the total capital Importation in 2018.

The UK emerged as the top source of capital investment in Nigeria the year under review with 6.01billion dollars investment. This accounted for 35.74% of the total capital inflow in 2018.

The second on the list of top 10 was the US, with capital investment of 3.57 billion dollars. This was followed by the South Africa with the capital investment of 1.15 billion dollars in the year under review.

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NAN reports that data for the report was supplied by the Central Bank of Nigeria (CBN), verified by NBS.

Meanwhile, Legit.ng reported that the World Bank had said that Nigeria’s Gross Domestic Product (GDP) growth would likely drop to two% in 2018, largely driven by non-oil industry and services.

According to the international apex bank's report issued in Abuja on Wednesday, November 28, there were indications that Nigeria, like many nations, had invested little in human capital.

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Source: Legit.ng

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