Nigeria’s Economy Sees Significant Boost as Capital Importation Rises by 210%

Nigeria’s total capital importation rose by 210.16% in the first quarter of 2024 from $1.08 billion recorded in Q4, 2023 to $3.37 billion in the period under review.

This is according to the National Bureau of Statistics (NBS) capital importation report in the first quarter of 2024.

When compared to the corresponding quarter of 2023, capital importation increased by 198.06% in the first quarter of 2024.

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Capital imports by type and sector
Portfolio Investment led with $2.07 billion, making up 61.48% of the total, followed by Other Investments at $1.18
billion (34.99%).

Foreign Direct Investment was the smallest, with $119.18 million (3.53%) of the total capital importation in Q1 2024.

The Banking sector saw the highest inflow, receiving $2.06 billion constituting 61.24% of total capital imports followed by the Trading sector at $494.93 million representing 14.66% of capital imports and the Production/ Manufacturing sector at $191.92 million making 5.68% of capital imports in the country.
Stanbic IBTC also recorded around $399 million in capital import inflow in Q1, 2024, beating its full-year total in 2023 at $384 million.


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