According to latest data from the National Bureau of Statistics (NBS), the total value of capital imported into Nigeria stood at $1.792 billion in the second quarter of 2017. This represents an $884.1 million increase from the figure recorded in Q1 2017.

Capital Importation can be divided into three main investment types: Foreign Direct Investment (FDI), Portfolio Investment and Other Investments, each comprising various sub-categories.

The report noted that the main driver of growth was Portfolio Investments, which increased by 145.7%, followed by other Investments growing by 95.02 percent, and Foreign Direct Investment (FDI), which increased by 29.8% over the previous quarter.

Portfolio Investment was the largest in Q2 accounting for $770.5 million or 43.0% of the total capital. This was followed by Other Investments which accounted for $747.5 million or 41.7%, while FDI accounted for $274.4 or 15.3%.

The data showed that four countries; U.S, Belgium, United Kingdom and Singapore, accounted for 74% of the total capital inflow into the West African country in the first six months of this year.

The United Kingdom was the largest source of capital inflow during the period bringing in a total inflow of $999million, followed by U.S with $503million. Belgium accounted for a total of $286 million and Singapore with $229 million.

Anita Fatunji