Portfolio investment has emerged top capital importation into Nigeria in Q1 2020, this was according to the latest report by the Nigeria Bureau of Statistics (NBS).
The total value of capital importation into Nigeria stood at $5,854.38m in the first quarter of 2020 with Portfolio investment, accounting for 73.61% ($4,309.47m) of total capital importation, followed by Other Investment, which accounted for 22.73% ($1,330.65m) of total capital, and then Foreign Direct Investment FDI, which accounted for 3.66% ($214.25m) of total capital imported in Q1 2020.
By sector, Capital importation by banking dominated Q1 2020 reaching $2,990.21m of the total capital importation in Q1 2020.
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The United Kingdom emerged as the top source of capital investment in Nigeria in Q1 2020 with $2,908.62m. This accounted for 49.68% of the total capital inflow in Q1 2020.
By Destination of Investment, Lagos state emerged as the top destination of capital investment in Nigeria in Q1 2019 with $5,135.49m. This accounted for 87.72% of the total capital inflow in Q1 2020.
