In Q4 2022, total capital importation into Nigeria stood at $1,060.73 million, lower than $2,187.63 million recorded in Q4 2021, indicating a decrease of 51.51%, latest data by the National Bureau of Statistics has shown.
When compared to the preceding quarter, capital importation also fell by 8.53% from $1,159.67 million in Q3 2022.
The largest capital importation during the period was received from other investment, which accounted for 65.17% ($691.23 million) of total capital imported in Q4 2022.
This was followed by portfolio investment with 26.89% ($285.26 million) and foreign direct investment (FDI) with 7.94% ($84.23 million).
Disaggregated by sectors, capital importation into the production sector recorded the highest inflow of $392.54 million, representing 37.01% of total capital imported in Q4 2022, the data by the statistics bureau showed.
This was followed by capital imported into the banking sector, valued at $255.45 million (24.08%), and telecoms with $168.27 million (15.86%).
Capital Importation by Country of Origin reveals that capital from the United Kingdom ranked top in Q4 2022 with US$455.24 million, accounting for 42.92%.
This was followed by the Republic of South Africa and the United Arab Emirates valued at $119.31 million (11.25%) and US$116.82 million (11.01%) respectively.
By Destination of Investment, Lagos state remained the top destination in Q4 2022 with $600.54 million, accounting for 56.62% of total capital investment in Nigeria. This was followed by Abuja (FCT), valued at $424.50 million (40.02%).
Categorization of Capital Importation by Banks shows that Citibank Nigeria Limited ranked top in Q4 2022 with $308.72 million (29.10%).
This was followed by Standard Chartered Bank Nigeria Limited with $232.45 million (21.91%) and Rand Merchant Bank with $102.00 (9.62%).
However, on annual basis, capital importation was $5,328.88 million in 2022, a decrease of 20.47% from $6,700.51 million in 2021.
