EHIME ALEX, Lagos
The National Bureau of Statistics said total value of capital importation into the country stood at $1.29 billion in the second quarter of 2020, trailing the downturn in business activities occassioned by the COVID-19 pandemic.
In a data released on Friday, NBS stated that the figure represents a decrease of 77.88 per cent compared to Q1 2020 and 78.60 per cent in Q2 2019.
It said the largest amount of capital importation by type was received through Other investment, which accounted for 58.77 per cent or $761.03 million of total capital imported.
Portfolio Investment followed by 29.76 per cent or $385.32 million, while Foreign Direct Investment (FDI) accounted for 11.47 per cent or $148.59 million of total capital imported in the review quarter.
The NBS report showed that by sector, Capital importation by Shares dominated in Q2 2020 reaching $464.57 million of the total capital importation in Q2 2020.
It further indicated that the United Kingdom emerged as the top source of capital investment to Nigeria in Q2 2020 with $428.83 million, which accounted for 33.12 per cent of the total capital inflow in the review quarter.
Analysing the data by destination of investment, Lagos state emerged as the top destination of capital investment in the country in Q2 2020 with $1,130.49 million, this accounted for 87.30 per cent of the total capital inflow.
It added that Standard Chartered Bank Nigeria Limited emerged at the top of capital investment in the country with $425.21 million, or 32.84 per cent of the total capital inflow in Q2 2020.
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