The value of capital imported into Nigeria in the second quarter (Q2) of 2017 was estimated to be $1.792.3 billion, indicating a $884.1 million increase over the figure recorded in Q1 2017, the National Bureau of Statistics (NBS), has said.
This depicts a 95.02 per cent growth even as Foreign Direct Investment (FDI) also increased by 29.8 per cent over the previous quarter.
Analysing the capital importation figure in its capital importation report for the second quarter of the year, the NBS stated that year-on-year, this was an increase of 43.6 per cent from the $1,042.2 billion recorded in Q2 of 2016.
On month-on-month analysis of capital importation in the second quarter, the month of May recorded the highest f amount of capital importation ($616.5 million), followed by June with $612.6 million and May with $563.3 million.
According to the NBS, the main driver of the quarterly growth in capital importation in the second quarter was Portfolio Investments, which increased by 145.7 per cent, followed by Other Investments, which grew by 95.02 per cent, and then Foreign Direct Investment (FDI), which increased by 29.8 per cent over the previous quarter.
Capital Importation can be divided into three main investment types: Foreign Direct Investment (FDI), Portfolio Investment and Other Investments, each comprising various sub-categories.