Nigeria’s capital importation dropped by 22.85% in Q2 2024, falling to $2.60 billion from $3.37 billion in Q1, according to the National Bureau of Statistics. Despite this quarterly decline, capital inflows surged by 152.8% compared to Q2 2023, when capital importation stood at $1.03 billion. Portfolio investments led the inflow, contributing $1.40 billion (53.93%), with other investments contributing the remaining $1.17 billion (44.92%). Foreign Direct Investment (FDI) remained low at $29.83 million (1.15%). As with previous quarters, the banking sector attracted the most capital, with $1.12 billion in inflows. It was followed by manufacturing with $624.71 million and trading with $569.22 million. The UK, Netherlands, and South Africa were the top sources of capital, with the UK contributing 43.01%.
SOURCE: NAIRAMETRICS
