Capital Importation Into Nigeria Declines By 7.7%

Investment inflow into the Nigerian economy has declined by $460 million in the third quarter of 2019, the National Bureau of Statistics (NBS) said on Monday.

Ekohotblog learnt that investment inflow into the Nigerian economy during the period was $5.36 billion compared to $5.82 billion in the second quarter.

The NBS disclosed these in its Capital Importation Report for third quarter released on Monday.

The report said the third quarter inflow of $5.36billion represents a decrease of 7.78 percent when compared to the second-quarter figure of $5.82billion.

Also, the report disclosed that the largest amount of capital importation was received through portfolio investment, which accounted for $2.99billion representing 55.88 percent of total capital importation.

Following closely is other investment which accounted for $2.16billion or 40.39 percent of total capital.

“Foreign Direct Investment (FDI) accounted for $200.08million or 3.73 percent of total capital imported in the third quarter of this year,” the report added.

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