Capital importation into Nigeria increases by 91.35%
2 years ago 1 min read
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Total capital importation into Nigeria increased by 91.35 percent to $1,252.66 million in the third quarter of 2024 compared to $654.65 million recorded in the same quarter last year.
This is according to the National Bureau of Statistics data on capital importation in Q3 released on Friday.
The data showed that foreign investments into Nigeria increased on a year-on-year basis.
However, when compared with Q2, capital importation into Africa’s most populous nation declined by 51.90 percent from US$2,604.50 million in Q2 2024.
A further analysis of Q3 capital importation showed that portfolio investment ranked top with US$899.31 million, accounting for 71.79 percent, followed by other investment with US$249.53 million, accounting for 19.92 percent.
Foreign Direct Investment recorded the least with US$103.82 million (8.29 percent).
