By Hosea Parah, Abuja

The National Bureau of Statistics (NBS), says total capital importation in Nigeria stood d at $1,060.73 million in quarter four of 2022.

The NBS said this in its Nigeria Capital Importation Q4 2022 report released on Wednesday in Abuja.

The report said the Q4 figure was lower than the $2,187.63 million recorded in Q4 2021, indicating a decrease of 51.51 percent.

“When compared to the preceding quarter, capital importation also fell by 8.53 percent from $1,159.67 million in Q3 2022.”

It said the largest capital importation during the period was received from other investments, which accounted for 65.17 percent ($691.23 million) of total capital imported in Q4 2022.

The report said this was followed by Portfolio Investment with 26.89 percent ($285.26 million) and Foreign Direct Investments (FDIs) with 7.94 percent ($184.23 million).

“Disaggregated by Sectors, capital importation into the production sector recorded the highest inflow of $392.54 million, representing 37.01 percent of total capital imported in Q4 2022.

“This was followed by capital imported into the banking sector, valued at $255.45 million (24.08 percent), and Telecoms with $168.27 million (15.86 percent).”

The NBS said Capital Importation by Country of Origin reveals that capital from the United Kingdom ranked top in Q4 2022 with $455.24 million, accounting for 42.92 percent.

The report said this was followed by the Republic of South Africa and the United Arab Emirates valued at $119.31 million (11.25 percent) and $116.82 million (11.01 percent), respectively.

By Destination of Investment, it said Lagos state remained the top destination in Q4 2022 with $600.54 million, accounting for 56.62 percent of total capital investment in Nigeria.

The report said this was followed by Abuja (FCT), valued at $424.50 million (40.02 percent).

It said Categorisation of Capital Importation by banks shows that Citibank Nigeria Limited ranked top in Q4 2022 with $308.72 million (29.10 percent).

“This was followed by Standard Chartered Bank Nigeria Limited with $232.45 million (21.91 percent) and Rand Merchant Bank with $102.00 million (9.62 percent).

It, however, said on an annual basis, capital importation was $5,328.88 million in 2022, showing a decrease of 20.47 percent from $6,700.51 million in 2021.”

Similarly, the total value of capital importation into Nigeria in Q3 2022 stood at $1,159.67 million from $1,731.37 million in Q3 2021.

The Nigeria Capital Importation report for Q3 2022 said the figure indicated a decrease of 33.02 percent.

“When compared to the preceding quarter, capital importation fell by 24.47 percent from $1,535.35 million in Q2 2022.’’

It said the largest capital importation in Q3 2022 was received through other investments, which accounted for 54.83 percent ($635.87 million).

“This was followed by Portfolio Investment with 38.12 percent ($442.08 million) and Foreign Direct Investments (FDIs) with 7.05 percent ($81.72 million).’’

Disaggregated by Sectors, the report showed that capital importation into banking had the highest inflow of $368.95 million, representing 31.82 percent of total capital imported in Q3 2022.

“This was followed by the financing sector, valued at $314.90 million (27.15 percent), and capital importation in shares with $104.58 million (9.02 percent).’’

The report said Capital Importation by Country of Origin revealed that capital from the United Kingdom ranked top in Q3 2022 with $506.87 million, accounting for 43.7 percent.

It said this was followed by Singapore and Hong Kong valued at $184.86 million (15.94 percent) and 106.39 million dollars (9.17 percent).

By Destination of Investment, the report showed Lagos state remained the top destination in Q3 2022 with $839.71 million, accounting for 72.41 percent of total capital investment in Nigeria.

It said this was followed by Abuja (FCT), valued at $303.81 million representing 26.20 percent.

The NBS said Categorisation of Capital Importation by banks showed that Stanbic IBTC Bank Plc ranked top in Q3 2022 with $301.84 million representing 26.03 percent.

“This was followed by Citibank Nigeria Limited with $274.19 million (23.64 percent) and Standard Chartered Bank Nigeria Limited with $233.34 million (20.12 percent).