Nigeria’s capital importation in the fourth quarter of 2021 stood at $2.19 billion, according to the report released by the National Bureau of Statistics.
This represents an increase of 26.35% from $1.73 billion reported in the preceding quarter, and a 109.28% increase compared to the $1.05 billion recorded in the last quarter of 2020.
54.24% ($1.19 billion) of the capital importation was received through “other investment,” according to the report. N1.07 billion out this were loans, a 221.33% rise QoQ and a 66.44% rise YoY.
Portfolio Investment accounted for 29.39% ($642.87 million). $558.96 of this were for Money Market Instrument, showing an increase of 3,167.85% YoY but a decrease of 29.76% QoQ. $45.91 million were for Bonds.
Foreign Direct Investment (FDI) represents 16.38% ($358.23 million) of total capital imported in Q4 2021. All the FDI, $358.23 million were equity investments, according to the report. This shows a 32.73% decline QoQ and a 110.55% rise YoY.
By sectors, capital importation into tanning had the highest inflow of $645.59 million amounting to 29.51% of total capital imported in the fourth quarter of 2021. This was followed by capital imported into the Production sector, valued at $360.06 million (16.46%) and the Electricals sector with $325.55 million (14.88%).
According to the report, Capital Importation by country of origin shows that Mauritius ranked top as a source of capital imported into Nigeria in the Q4 of 2021 with a value of $611.45 million, accounting for 27.95%.
It was followed by the United States of America and the Republic of South Africa valued at $321.03 million (14.67%) and $285.83 million (13.07%) respectively. Others are the Netherlands valued at $228.02 million and Singapore at $223,82 billion.
Lagos remained the top destination for capital investment in Nigeria. It accounts for 90.66% ($1.98 billion) of Q4 2021 Capital Importation. It was followed by Abuja with a value of $170.55 million (7.80%), Osun with $29.92 million, Oyo with $2.00 million and Rivers with $1.00 million.
Under the category by banks, Eco Bank Plc took the top spot in Q4 2021 with $708.58 million (32.39%). It was followed by Stanbic IBTC Bank with $453.82 million (20.74%) and Union Bank of Nigeria Plc with 284.60 (13.01%.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
