Capital Importation

In Q3 2024, total capital importation into Nigeria stood at US$1,252.66 million, higher than US$654.65 million recorded in Q3 2023, indicating an increase of 91.35%. In comparison to the preceding quarter, capital importation declined by 51.90% from US$2,604.50 million in Q2 2024.

Portfolio Investment ranked top with US$899.31 million, accounting for 71.79%, followed by Other Investment with US$249.53 million, accounting for 19.92%. Foreign Direct Investment recorded the least with US$103.82 million (8.29%) of total capital importation in Q3 2024.

The Banking sector recorded the highest inflow with US$579.48 million, representing 46.26% of total capital imported in Q3 2024, followed by the Financing sector, valued at US$294.55 million (23.51%), and Production/Manufacturing sector with US$189.22 million (15.11%).

Capital Importation during the reference period originated largely from the United Kingdom with US$502.60 million, showing 40.12% of the total capital imported. This was followed by the Republic of South Africa with US$185.03 million (14.77%) and the United States with US$163.86 million (13.08%).

Out of the five states that recorded capital importation during the quarter, Lagos state remained the top destination with US$650.41 million, accounting for 51.92% of the total capital imported. Abuja (FCT) followed with US$600.02 million (47.90%), and Kaduna state with US$1.95 million (0.16%). Others were Enugu and Ekiti states with US$184,229 and US$96,600 respectively.

Standard Chartered Bank Nigeria Limited received the highest capital importation into Nigeria in Q3 2024 with US$385.62 million (30.78%), followed by Stanbic IBTC Bank Plc with US$382.08 million (30.50%) and Citibank Nigeria Limited with US$192.88 (15.40%).