Nigeria’s Foreign Capital Importation Drops To $9.68bn, Lowest In Four Years

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The total value of capital importation into Nigeria has recorded a huge decline from $23.9 billion recorded in 2019 to $9.68 billion in 2020. 

According to the data released by the National Bureau of Statistics (NBS) on Friday, this is a decline of 59.65 percent between 2019 and 2020.

Foreign capital flow into the country stood at $16.81bn in 2018, $12.23bn in 2017, and $5.12bn in 2016, the NBS data showed.

According to the statistics agency in its full-year capital importation report, Nigeria recorded $1.06 billion in the fourth quarter of last year, a 26.81 percent drop quarter on quarter.

The report shows that the largest amount of capital importation was received through other investments which recorded $783.26 million, followed by foreign direct investment and portfolio investment.

More to follow…

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