The National Bureau of Statistics (NBS) has reported that capital importation declined in Q1 2022, mirroring other corresponding first quarters between 2019 and this year, with the United Kingdom maintaining the inflow, IgbereTV reports
For the period of Q1 2022, NBS disclosed that capital importation, which consists of financial and equipment capital importation, was $1.57 billion, falling short of the $1.91 billion reported in Q1 2021.
This shows investment such as foreign direct investment, portfolio investment, and other investments, which make up the equipment and capital importations, have been on a decline in the last four Q1.
Africa’s largest economy has seen investment inflow drop from $8.49 billion in Q1 2019 to $5.85 billion in the first three months of the year after. Within the four quarters, Nigeria has lost $6.92 billion, with investment declining by -81.5% within the period.
It was gathered that sources of the capital importation for the four quarters under review were dominated by portfolio investments coming from the United Kingdom down to the banking sector
