In the second quarter of 2024, Nigeria's total capital importation reached US$2,604.50 million, reflecting a significant rise from US$1,030.21 million in the same quarter of 2023, which translates to an increase of 152.81%.
However, when compared to the previous quarter, there was a decrease of 22.85% from US$3,376.01 million recorded in the first quarter of 2024.
The Portfolio Investment took the lead, totaling US$1,404.70 million, which represents 53.93% of the total. Following closely is Other Investment, amounting to US$1,169.97 million, or 44.92% of the total.
In the second quarter of 2024, Foreign Direct Investment was notably low, amounting to just US$29.83 million, which represents 1.15% of the total capital inflows.
In the second quarter of 2024, the Banking sector experienced the largest capital inflow, totaling US$1,123.95 million, which accounts for 43.15% of all capital imported.
This was closely followed by the Production/Manufacturing sector, which attracted US$624.71 million, representing 23.99% of the total.
The Trading sector also made a significant contribution, receiving US$569.22 million, or 21.86%.
Source: NBS
However, when compared to the previous quarter, there was a decrease of 22.85% from US$3,376.01 million recorded in the first quarter of 2024.
The Portfolio Investment took the lead, totaling US$1,404.70 million, which represents 53.93% of the total. Following closely is Other Investment, amounting to US$1,169.97 million, or 44.92% of the total.
In the second quarter of 2024, Foreign Direct Investment was notably low, amounting to just US$29.83 million, which represents 1.15% of the total capital inflows.
In the second quarter of 2024, the Banking sector experienced the largest capital inflow, totaling US$1,123.95 million, which accounts for 43.15% of all capital imported.
This was closely followed by the Production/Manufacturing sector, which attracted US$624.71 million, representing 23.99% of the total.
The Trading sector also made a significant contribution, receiving US$569.22 million, or 21.86%.
Source: NBS
In the second quarter of 2024, Nigeria's total capital importation reached US$2,604.50 million, reflecting a significant rise from US$1,030.21 million in the same quarter of 2023, which translates to an increase of 152.81%.
However, when compared to the previous quarter, there was a decrease of 22.85% from US$3,376.01 million recorded in the first quarter of 2024.
The Portfolio Investment took the lead, totaling US$1,404.70 million, which represents 53.93% of the total. Following closely is Other Investment, amounting to US$1,169.97 million, or 44.92% of the total.
In the second quarter of 2024, Foreign Direct Investment was notably low, amounting to just US$29.83 million, which represents 1.15% of the total capital inflows.
In the second quarter of 2024, the Banking sector experienced the largest capital inflow, totaling US$1,123.95 million, which accounts for 43.15% of all capital imported.
This was closely followed by the Production/Manufacturing sector, which attracted US$624.71 million, representing 23.99% of the total.
The Trading sector also made a significant contribution, receiving US$569.22 million, or 21.86%.
Source: NBS
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