Capital importation into Nigeria for the 3rd quarter of 2019 hits the highest in four years growing to $5.36 million, on a year on year comparison, this showed an increase of 88 percent from the 2.85 million recorded in the corresponding period of the previous year. However, it also represents a 7.78 percent decline when compared to the $5.82 million recorded in the 2nd quarter of the year.
The growth recorded was fuelled by portfolio investment which accounted for 55.88 percent of the total capital importation which a contribution of $2.99 million. This feat was closely followed by other investments which accounted for 40.39 percent with the sum of $2.16 million driven by loans and other claims.
Foreign Direct Investment (FDI) contributed a minor 3.73 percent with $200m to the total capital imported in Q3 2019. This however represented a decline of 62.29 percent from the previous year which recorded the sum of $ 530 million.
Update coming soon….
Gbemi Faminu
