Skip to main content

Capital importation grows by 54% to $5.9bn in Q1’20



 

The value of capital importation into the country grew quarter on quarter (QoQ) by 54 percent to $5.9 billion in the first quarter of the year (Q1’20) from $3.8 billion recorded in the fourth quarter of last year (Q4’19).

The National Bureau of Statistics (NBS) disclosed this yesterday in its Q1’20 Capital Importation Report.

The bureau noted that year-on-year (YoY) capital importation into the country declined by 31.2 percent when compared with $8.5 billion recorded in Q1’19.

According to the report, the largest amount of capital importation by type was received through portfolio investment ($4.3 billion).

On classification by sector, capital importation by banking dominated with Standard Chartered Bank Nigeria Limited leading capital investment in Nigeria with $1.7 billion inflow in Q1’20.

The report stated:”The total value of capital importation into Nigeria stood at $5,854.38m in the first quarter of 2020. This represents an increase of 53.97 percent compared to Q4 2019 and -31.2 percent decrease compared to the first quarter of 2019.

“The largest amount of capital importation by type was received through Portfolio investment, which accounted for 73.61 percent ($4.31 billion) of total capital importation, followed by Other Investment, which accounted for 22.73 percent ($1.3 billion) of total capital, and then Foreign Direct Investment FDI, which accounted for 3.7 percent ($214.25 million) of total capital imported in Q1’20.

“By sector, Capital importation by banking dominated Q1 2020 reaching $2.99 billion of the total capital importation in Q1’20.

“The United Kingdom emerged as the top source of capital investment in Nigeria in Q1’20 with $2.9 billion. This accounted for 49.7 percent of the total capital inflow in Q1’20.

“By Destination of Investment, Lagos state emerged as the top destination of capital investment in Nigeria in Q1’19 with $5.14 billion. This accounted for 87.7 percent of the total capital inflow in Q1 2020.

“By Bank, Standard Chartered Bank Nigeria Limited emerged at the top of capital investment in Nigeria in Q1 2020 with $1.7 billion. This accounted for 28.30 percent of the total capital inflow in Q1’20.”

Labels:

Comments

Post a Comment

Popular posts from this blog

Steer Clear from Tompolo's Pipeline Surveillance Job, Face Your Olu's Contract... Activist Warn Itsekiri Leaders

Steer Clear from Tompolo's  Pipeline Surveillance Job, Face Your Olu's Contract... Activist Warn Itsekiri Leaders  Niger Delta Human Rights Activist, comrade Daniel Ezekiel has berated ltsekiri leaders for calling on  the Federal Government to decentralize the pipeline security contract awarded to the Niger Delta living legend, High Chief Government Ekpemukpolo alias Tompolo. The activist in a statement to FocalPoint Reports, on Thursday, reacted with displeasure and strongly condemned Itsekiri leaders Who were led by Hon. Michael Diden to call for the decentralization of Tompolo's Surveillance contract, during a visit to High Chief Bibopere Ajube (Shoot-at-sight) at his Agadagba-Obon, residence in Ese-Odo Local Government Area of Ondo State,  Ezekiel Daniel described those who visited Bibopere Ajube as self-proclaimed Itsekiri leaders and their voices are nothing good but mere distractions and should not be taken seriously. He added that the statements m...
1 comment
Read more

NMU Governing Council chairman seeks solutions to challenges facing varsity

NMU Governing Council chairman seeks solutions to challenges facing varsity The Acting Chairman of the Governing Council of the Nigerian Maritime University, Okerenkoko, Delta State,  Adewale Adeogun, has appealed for immediate action to address the pressing challenges facing the institution.   Adeogun, who spoke during the council meeting  in Warri, expressed deep concern over the university’s underdevelopment despite its six-year existence. Highlighting the urgent need for government intervention, Adeogun emphasised the importance of establishing a permanent campus and ensuring adequate funding.  He pointed out that the university’s progress has been hindered by the suspension of projects initiated by the Nigerian Maritime Administration and Safety Agency (NIMASA). “It is disheartening to see that despite being a specialised university, Nigerian Maritime University is still struggling to find its footing,” Adeogun stated. “We must work tirelessly to secure gov...
Post a Comment
Read more

Retired police officers protest over unpaid pensions

Some retired police officers under the contributory pension scheme on Tuesday, May 21, protested at the National Assembly over alleged several months of unpaid pensions with a call on President Bola Tinubu to remove them from the scheme. The protesters decried the extreme challenges they endure, saying that the National Pension Commission (PENCOM) has failed to pay their entitlements for several months causing them and their families untold hardship. The aggrieved retired police officers also wrote a Save Our Soul (SOS) letter to the President of the Senate, Godswill Akpabio, calling for an urgent intervention. Speaking on behalf of the protesters, Chairman of the retirees, Christopher Effiong said many of their members have developed terminal illnesses and heart attacks as a result of the frustration associated with the scheme. In a letter dated May 21 and addressed to Senate President Godswill Akpabio, the retirees said many of their colleagues have lost their lives due to t...
Post a Comment
Read more