The volume of capital imported into Nigeria in 2019 was up by 42.6 per cent in 2019 rising from $16.81 billion in 2018 to $23.99 billion, despite a 32.4 per cent decline in inflows in the last three months of the year.
Data released by the National Bureau of Statistics (NBS) yesterday showed that the volume of capital imported into the country stood at $3.8 billion in the fourth quarter of 2019. This represents a decline of 32.42 per cent when compared to the third quarter of 2019, and a 77.67 per cent increase when compared to the fourth quarter of 2018.
The largest amount of capital importation by type was received through Foreign Portfolio Investment (FPI), followed by Other Investment and Foreign Direct Investment (FDI).
According to the data, Foreign Direct Investments had recorded a rise of 24.53 per cent in the last quarter of 2019 to $257.25 million compared to $206.58 million recorded in the third quarter. Year on year, it however recorded a 21.79 per cent as total FDI into the country last year stood at $934.34 million as against $1.19 billion recorded in 2018.
FPI which had seen a 37.77 per cent decline in the Q4 to $1.88 billion from $3.02 billion in Q3 had recorded a 38.6 per cent increase year on year. FPI in 2019 stood at $16.36 billion compared to $11.8 billion in 2018.
Likewise other investment had grown year on year by 75.3 per cent to $6.69 billion from $3.81 billion recorded in 2018. However compared to $2.39 billion which was recorded in Q3 2019, other Investments in Q4 declined by 30.5 per cent to $1.66 billion.
By sector, shares dominated with the highest amount of capital imported in Q4 2019. The United Kingdom emerged as the Country of origin with the highest amount of Capital Imported while Lagos is the destination with the highest amount of Capital Importation.
By Bank, Stanbic IBTC Bank Plc emerged as the bank with the highest amount of capital imported into Nigeria in Q4 and full year 2019