The volume of capital imported into Nigeria in 2019 was up by 42.6 percent in 2019 rising from $16.81 billion in 2018 to $23.99 billion, despite a 32.4 percent decline in inflows in the last three months of the year.

Data released by the National Bureau of Statistics (NBS) yesterday showed that the volume of capital imported into the country stood at $3.8 billion in the fourth quarter of 2019. This represents a decline of 32.42 percent when compared to the third quarter of 2019, and a 77.67 percent increase when compared to the fourth quarter of 2018.

The largest amount of capital importation by type was received through Foreign Portfolio Investment (FPI), followed by Other Investment and Foreign Direct Investment (FDI).

According to the data, Foreign Direct Investments had recorded a rise of 24.53 percent in the last quarter of 2019 to $257.25 million compared to $206.58 million recorded in the third quarter. Year on year, it, however, recorded a 21.79 percent as total FDI into the country last year stood at $934.34 million as against $1.19 billion recorded in 2018.

FPI which had seen a 37.77 percent decline in the Q4 to $1.88 billion from $3.02 billion in Q3 had recorded a 38.6 percent increase year on year. FPI in 2019 stood at $16.36 billion compared to $11.8 billion in 2018.

Likewise, other investments had grown year on year by 75.3 percent to $6.69 billion from $3.81 billion recorded in 2018. However, compared to $2.39 billion which was recorded in Q3 2019, other Investments in Q4 declined by 30.5 percent to $1.66 billion.

By sector, shares dominated with the highest amount of capital imported in Q4 2019.  The United Kingdom emerged as the Country of origin with the highest amount of Capital Imported while Lagos is the destination with the highest amount of Capital Importation.