Total capital importation hit $1,060.73m in Q4 2022 — NBS

Published by

2 years ago

The total capital importation in Nigeria stood d at 1,060.73 million dollars in the fourth quarter of 2022, according to the National Bureau of Statistics (NBS) report.

The NBS said this in its Nigeria Capital Importation Q4 2022 report released on Wednesday in Abuja.

The report said the Q4 figure was lower than the 2,187.63 million dollars recorded in Q4 2021, indicating a decrease of 51.51 percent.

“When compared to the preceding quarter, capital importation also fell by 8.53 percent from 1,159.67 million dollars in Q3 2022.’’

It said the largest capital importation during the period was received from other investments, which accounted for 65.17 percent (691.23 million dollars) of total capital imported in Q4 2022.

The report said this was followed by Portfolio Investment with 26.89 percent (285.26 million dollars) and Foreign Direct Investments (FDIs) with 7.94 percent (l84.23 million dollars).

“Disaggregated by Sectors, capital importation into the production sector recorded the highest inflow of 392.54 million dollars, representing 37.01 percent of total capital imported in Q4 2022.

“This was followed by capital imported into the banking sector, valued at 255.45 million dollars (24.08 percent), and Telecoms with 168.27 million dollars (15.86 percent).’’

The NBS said Capital Importation by Country of Origin reveals that capital from the United Kingdom ranked top in Q4 2022 with 455.24 million dollars, accounting for 42.92 percent.

The report said this was followed by the Republic of South Africa and the United Arab Emirates valued at 119.31 million dollars (11.25 percent) and 116.82 million dollars (11.01 percent), respectively.

By Destination of Investment, it said Lagos state remained the top destination in Q4 2022 with 600.54 million dollars, accounting for 56.62 percent of total capital investment in Nigeria.

The report said this was followed by Abuja (FCT), valued at 424.50 million dollars (40.02 percent).

It said Categorisation of Capital Importation by banks shows that Citibank Nigeria Limited ranked top in Q4 2022 with 308.72 million dollars (29.10 percent).

“This was followed by Standard Chartered Bank Nigeria Limited with 232.45 million dollars (21.91 percent) and Rand Merchant Bank with 102.00 million dollars (9.62 percent).

It, however, said on an annual basis, capital importation was 5,328.88 million dollars in 2022, showing a decrease of 20.47 percent from 6,700.51 million dollars in 2021.”

Similarly, the total value of capital importation into Nigeria in Q3 2022 stood at 1,159.67 million dollars from 1,731.37 million dollars in Q3 2021.

The Nigeria Capital Importation report for Q3 2022 said the figure indicated a decrease of 33.02 percent.

“When compared to the preceding quarter, capital importation fell by 24.47 percent from 1,535.35 million dollars in Q2 2022.’’

It said the largest capital importation in Q3 2022 was received through other investments, which accounted for 54.83 percent (635.87 million dollars).

“This was followed by Portfolio Investment with 38.12 percent (442.08 million dollars) and Foreign Direct Investments (FDIs) with 7.05 percent (81.72 million dollars).’’

Disaggregated by Sectors, the report showed that capital importation into banking had the highest inflow of 368.95 million dollars, representing 31.82 percent of total capital imported in Q3 2022.

“This was followed by the financing sector, valued at 314.90 million dollars (27.15 percent), and capital importation in shares with 104.58 million dollars (9.02 percent).’’

The report said Capital Importation by Country of Origin revealed that capital from the United Kingdom ranked top in Q3 2022 with 506.87 million dollars, accounting for 43.7 percent.

It said this was followed by Singapore and Hong Kong valued at 184.86 million dollars (15.94 percent) and 106.39 million dollars (9.17 percent).

By Destination of Investment, the report showed Lagos state remained the top destination in Q3 2022 with 839.71 million dollars, accounting for 72.41 percent of total capital investment in Nigeria.

It said this was followed by Abuja (FCT), valued at 303.81 million dollars representing 26.20 percent.

The NBS said Categorisation of Capital Importation by banks showed that Stanbic IBTC Bank Plc ranked top in Q3 2022 with 301.84 million dollars representing 26.03 percent.

“This was followed by Citibank Nigeria Limited with 274.19 million dollars (23.64 percent) and Standard Chartered Bank Nigeria Limited with 233.34 million dollars (20.12 percent).”

READ ALSO FROM NIGERIAN TRIBUNE