Foreign investments

Foreign Investment in Nigeria Drops 28% to $1.6 Billion in Q1 –

According to the latest Capital Import Report.

The report released today by the National Bureau of Statistics also showed that on an annual basis, it was down 17.5% from $1.9 billion in the first quarter of 2021.

“The largest amount of imported capital by type was received through portfolio investment, which accounted for 60.9% ($957.6 million). Next came other investment with 29.3% ($460.6 million) and foreign direct investment accounted for 9.9% ($154.9 million) of total imported capital in the first quarter of 2022,” the report said. .

The report also pointed out that in terms of sectors, the import of capital in the banking sector recorded the highest inflow of 818.8 million dollars, representing 52.1% of the total capital imported in the first quarter. 2022.

Read also: Investment in FGN securities profitable, without risk – DMO

Next come imported capital in the production sector, valued at 223.7 million dollars (14.2%) and the financing sector with 199.37 million dollars (12.7%).

In terms of country of origin, the UK ranked as the top source of capital imported into Nigeria in the first quarter of 2022 with a value of $1,021.2 million or 64.9%.

Next come the Republic of South Africa and the United States of America, valued at $117.5 million (7.5%) and $82.1 million (5.2%) respectively.

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