Capital importation into Nigeria drops by 81% – NBS

Advertisements
Advertisements

Advertisements

Capital importation into Nigeria has fallen by 81.46 percent, a difference of $6.91bn, from $8.49bn in the first quarter of 2019 to $1.57bn in the corresponding quarter of 2022, according to data obtained from the National Bureau of Statistics (NBS).

NBS

This is contained in the NBS report on ‘Nigerian Capital Importation’ for the first quarters of 2019, 2020, 2021, and 2022.

The report indicates that, there has been a steady decline in capital inflows into the nation.

Total capital inflow fell by 31.01 percent from $8.49bn in Q1 2019 to $5.85bn in Q1 2020; it fell by 67.45 per cent to $1.91bn in Q1 2021; and further declined by 17.46 per cent to $1.57bn in Q1 2022.

According to the NBS, capital importation data is obtained from the Central Bank of Nigeria (CBN) and includes imported physical capital, such as equipment, and financial capital importation.