NBS Says Nigeria’s Capital Importation Plunged To $1.06bn In Q4 2022

The National Bureau of Statistics (NBS) says capital importation into Nigeria declined by 8.53 percent in the fourth quarter (Q4) of 2022.

This is contained in the agency’s new report on capital importation inflows for Q4 in 2022.

According to NBS, the total capital imported into the country in the period under review was valued at $1.06 billion — down from $1.16 billion in the preceding quarter.

When compared to the fourth quarter of 2021, total capital importation fell by 51.51 percent from $2.19 billion.

Only five out of the 36 states and the federal capital territory (FCT), attracted capital investments in Q4 2022, the report said.

Lagos recorded $600 million, accounting for 56.63 percent of the total capital inflow, followed by FCT ($424.50 million), Akwa Ibom ($31.47 million), Anambra ($4 million), and Ondo ($0.20 million).

The largest capital importation by type in the quarter under review was received from other investment, which accounted for 65.17 percent ($691.23 million), followed by portfolio investment with 26.89 percent ($285.26 million) and foreign direct investment (FDI) with 7.94 percent ($84.23 million).