Latest report from the
National Bureau of Statistics indicates that Stanbic Bank led other 25 banks in
capital importation for the Q2 2018. According to the report, a total of $3,027,347,880 capital was imported into the country through the bank.
Standard Charted Bank followed with $ 817,231,702.
The report further
shows that Abuja, Lagos, Abia, Akwa Ibom and Ogun states received the highest
capital during the period. Over 46% of the capital entered Abuja’s economy
while Lagos, Abia, Akwa Ibom and Ogun states had 30.08%, 22.99%, 0.29% and
0.23% accordingly.
The Bureau says: “There was
a decrease of 12.53% compared to Q1 2018, but a 207.62% increase compared to
the second quarter of 2017. The decline recorded in the second quarter was as a
result of a decline in Portfolio and Other Investments, which declined by 9.76%
and 24.07% respectively.
The largest amount of
capital importation by type was received through Portfolio investment, which
accounted for 74.7% ($4,119.5m) of total capital importation, followed by Other
Investment, which accounted for 20.5% ($1,132.8m) of total capital, and then
Foreign Direct Investment FDI, which accounted for 4.7% ($261.4m) of total
capital imported in the second quarter.”
Capital Importation comprises Foreign Direct Investment
(FDI), Portfolio Investment and Other Investments, each comprising various
sub-categories.
Comments
Post a Comment