The Federal Government in the second quarter of 2021 recorded a 54.06 percent decline in the total value of capital investment inflows into the country.
According to the National Bureau of Statistics Capital Importation Report, investment inflow for the period was $875.62m, representing a 54.06 percent decline from $1.91bn recorded in the first quarter of 2021.
The Report showed that the largest amount of capital importation by type was received through portfolio investment, which accounted for 62.97 percent ($551.37m) of total capital inflows.
Other Investment accounted for 28.1 percent ($246.27m) of total capital imported while Foreign Direct Investment (FDI), accounted for 8.90 percent ($77.97m) of total capital imported in Q2, 2021.
“By sector, Capital importation by Banking dominated in Q2, 2021 reaching $296.51m of the total capital importation in Q2 2021,” it stated.
By Bank, the Report stated that Stanbic IBTC Bank Plc emerged at the top of capital investment in Nigeria in Q2 2021 with
This accounted for 35.43 percent of the total capital inflow during the period.
By destination of investment, the Report said Lagos state emerged as the top destination of capital investment in Nigeria in the second quarter with $780.06m.