Capital importation dropped by 51% in Q4 2022: NBS
The National Bureau of Statistics (NBS) says total capital importation in Nigeria stood at $1.060.73 million in Q4 of 2022.
In its Nigeria Capital Importation Q4 2022 report released on Wednesday, NBS said the Q4 figure was lower than the $2.187.63 million recorded in Q4 2021, indicating a decrease of 51.51 per cent.
Compared to the preceding quarter, capital importation also fell by 8.53 per cent from $1,159.67 million in Q3 2022.’
It said the largest capital importation was received from other investments, which accounted for 65.17 per cent ($691.23 million) of total capital imported in Q4 2022.
The report said portfolio investment followed this with 26.89 per cent ($285.26 million) and foreign direct investments (FDIs) with 7.94 per cent ($184.23 million).
“Disaggregated by sectors, capital importation into the production sector recorded the highest inflow of $392.54 million, representing 37.01 per cent of total capital imported in Q4 2022,” stated the NBS. “This was followed by capital imported into the banking sector, valued at $255.45 million (24.08 per cent), and Telecoms with $168.27 million (15.86 per cent ).”
The NBS said the capital importation by country of origin revealed that capital from the United Kingdom ranked top in Q4 2022 with $455.24 million, accounting for 42.92 per cent.
This was followed by South Africa and the United Arab Emirates, valued at $119.31 million (11.25 per cent ) and $116.82 million (11.01 per cent ).
By destination of investment, it said Lagos remained the top destination in Q4 2022 with $600.54 million, accounting for 56.62 per cent of total capital investment in Nigeria.
The report said this was followed by Abuja (FCT), valued at $424.50 million (40.02 per cent).
It said categorisation of capital importation by banks shows that Citibank Nigeria Limited ranked top in Q4 2022 with $308.72 million (29.10 per cent). This was followed by Standard Chartered Bank Nigeria Limited with $232.45 million (21.91 per cent ) and Rand Merchant Bank with $102.00 million (9.62 per cent).
However, on an annual basis, capital importation was 5.328.88 million dollars in 2022, showing a decrease of 20.47 per cent from $6.700.51 million in 2021. Similarly, the total value of capital importation into Nigeria in Q3 2022 stood at $1.159.67 million from $1.731.37 million in Q3 2021.
The Nigeria capital importation report for Q3 2022 indicated a decrease of 33.02 per cent. Compared to the preceding quarter, capital importation fell by 24.47 per cent from $1,535.35 million in Q2 2022.’
It said the largest capital importation in Q3 2022 was received through other investments, which accounted for 54.83 per cent ($635.87 million).
This was followed by portfolio investment with 38.12 per cent ($442.08 million) and foreign direct investments (FDIs) with 7.05 per cent ($81.72 million). Disaggregated by sectors, the report showed that capital importation into banking had the highest inflow of $368.95 million, representing 31.82 per cent of total capital imported in Q3 2022.
This was followed by the financing sector, valued at $314.90 million (27.15 per cent), and capital importation in shares with $104.58 million (9.02 per cent).’
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, accounting for 43.7 per cent. This was followed by Singapore and Hong Kong, valued at $184.86 million (15.94 per cent) and $106.39 million (9.17 per cent).
By destination of investment, the report showed Lagos remained the top destination in Q3 2022 with $839.71 million, accounting for 72.41 per cent of total capital investment in Nigeria.
It said this was followed by Abuja (FCT), valued at $303.81 million representing 26.20 per cent.
The NBS said categorisation of capital importation by banks showed that Stanbic IBTC Bank Plc ranked top in Q3 2022 with $301.84 million representing 26.03 per cent.
Citibank Nigeria Limited followed this with $274.19 million (23.64 per cent) and Standard Chartered Bank Nigeria Limited with $233.34 million (20.12 per cent).
(NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
NationWide
Focus on criminals, stop targeting journalists, CPJ tells Nigerian security agencies
She also pointed out harsh bail requirements imposed on journalists, describing Mr Ugagbe’s bail conditions as “utterly punitive.”
Education
Tinubu upgrades Nasarawa poly to university
Mr Onanuga said the approval followed a proposal by Senator Ahmed Aliyu, who represents the Nasarawa West Senatorial District.
Lagos
Lagos govt signs agreement to automate vehicle registration
Mr Osiyemi said the initiative would simplify and speed up vehicle registration by eliminating cumbersome processes.
States
Three rescued, one body recovered as building collapses in Kano
The Kano State Fire Service has said that one person died and three others were rescued after a building under construction collapsed
NationWide
FG calls for stronger African collaboration to combat illicit wealth, transnational corruption
Mr Fagbemi added that the recovery and transparent management of proceeds of crime remained a key pillar of the country’s anti-corruption policy.
Heading 2
FG reiterates commitment to ensuring safe return of Nigerians from South Africa
“The last evacuation flight, which is expected to bring home approximately 300 of our nationals, is expected to arrive in Nigeria next week,” Mr Ebienfa said.
