The NBS stated that the sum in Q4 2023 increased by 2.62% compared to the previous year, Q4 2022, when capital importation was valued at around US$1,060.73 million.
According to data from the National Bureau of Statistics, total capital imported into the country in the fourth quarter of 2023 was $1,088.48 million.
This number shows that capital imports increased by 66.27% between October and December 2023, from US$654.65 million in Q3 2023 (July-September).
The NBS stated that the sum in Q4 2023 increased by 2.62% compared to the previous year, Q4 2022, when capital importation was valued at around US$1,060.73 million.
According to NBS data, Other Investment accounted for 54.64% (US$594.74 million) of total capital inflow in Q4 2023, followed by Portfolio Investment (28.46%, US$309.76 million) and Foreign Direct Investment (FDI) (16.90%, US$183.97 million).
“The production/manufacturing sector saw the greatest inflow of US$450.11 million, accounting for 41.35% of total capital imported in Q4 2023, followed by the banking sector at US$283.30 million (26.03%) and financing at US$135.59 million (12.46%).
“Capital importation during the reference period was primarily from the United Kingdom, with US$267.24 million and a 24.55% share. Mauritius came in second with US$226.18 million (20.78%), followed by the Netherlands, which had US$149.93 million (13.77%).
“In Q4 2023, Lagos state remained the largest destination, accounting for 65.38% of total capital importation, followed by Abuja (FCT) with US$370.80 million (34.07%) and Rivers state with US$6.00 million (0.55%).
“Stanbic IBTC Bank Plc received the highest capital importation into Nigeria in Q4 2023 with US$499.45 million (45.88%), followed by Citibank Nigeria Limited with US$229.06 million (21.04%) and Rand Merchant Bank Plc with US$85.85 (7.89%).”
