The National Bureau of Statistics (NBS) has reported that in Q4 2023, total capital importation into Nigeria stood at US$1,088.48 trillion, with Stanbic IBTC Bank Plc receiving the highest amount by financial institutions with US$499.45 million, translating to 45.88 percent.
Second to Stanbic IBTC Bank Plc is Citibank Nigeria Limited with US$229.06 million (21.04 percent) and Rand Merchant Bank Plc with US$85.85 (7.89 percent).
According to the Nigeria Capital Importation (Q4 2023) Report, the total capital importation was slightly higher than the US$1,060.73 million recorded in Q4 2022, indicating an increase of 2.62 percent.
In comparison to the preceding quarter, capital importation rise by 66.27 percent from US$654.65 million in Q3 2023.
Other Investment ranked top accounting for 54.64 percent (US$594.74 million) of total capital importation in Q4 2023, followed by Portfolio Investment with 28.46 percent (US$309.76 million) and Foreign Direct Investment (FDI) with 16.90 percent (US$183.97 million).
The production/manufacturing sector recorded the highest inflow with US$450.11 million, representing 41.35 percent of total capital imported in Q4 2023, followed by the banking sector, valued at US$283.30 million (26.03 percent), and financing with US$135.59 million (12.46 percent).
Capital Importation during the reference period originated largely from the United Kingdom with US$267.24 million, and recorded 24.55 percent share. This was followed by Mauritius with US$226.18 million (20.78 percent) and the Netherlands with US$149.93 million (13.77 percent).
Lagos state remained the top destination in Q4 2023 with US$771.68 million, accounting for 65.38 percent of total capital importation, followed by Abuja (FCT) with US$370.80 million (34.07 percent) and Rivers state with US$6.00 million (0.55 percent).
