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)