2021: Foreign investment into Nigeria falls by half in second quarter

The total value of capital importation declined to $875.6 million from $1.9 billion in the first quarter.

The total value of capital importation into Nigeria declined to $875.6 million in the second quarter of 2021 from $1.9 billion in the first quarter of 2021, theThe figure represents a decrease of 54.06 per cent compared to the first quarter, and 32.38 per cent decrease compared to the second quarter of 2020.

The NBS said the largest amount of capital importation was received through portfolio investment, which accounted for 62.97 per cent of total capital importation. The report said by sector, capital importation in banking dominated in Q2 2021 reaching $296.51 million of the total capital importation in Q2 2021.“The United Kingdom emerged as the top source of capital investment in Nigeria in Q2 2021 with $310.26m. This accounted for 35.43 per cent of the total capital inflow in Q2 2021,” the report said.

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