Capital Importation Rises By 210% In Q1

Capital importation into the country rose by 210% in the first quarter of 2024.

The report, which was released on Monday, noted that the total importation into the country stood at $3,376.01 million, higher than $1,132.65m recorded in Q1 2023 thereby indicating an increase of 198.06%.

When compared to Q4 last year, the national importation value rose by 210.16% from $1,088.48m.

This, the bureau said, owes to the high Portfolio Investment valued at “$2,075.59m, accounting for 61.48%; followed by Other Investment with $1,181.25m, accounting for 34.99%. Foreign Direct Investment recorded the least with $119.18m (3.53%) of total capital importation in Q1 2024.”