THE total value of capital importation into Nigeria stood at $8.49 billion in the first quarter of 2019.

The Capital Importation report released, yesterday, by the National Bureau of Statistics (NBS) showed that represented an increase of 216.03 percent compared to last quarter of 2018.

Compared to the corresponding quarter in 2018, the latest value represented 34.61 percent increase.

An analysis of the report showed that the largest amount of capital importation by type was received through portfolio investment, which accounted for 84.21 percent ($7.15 billion) of total capital importation, followed by other Investment, which accounted for 12.91 percent ($1.10 billion) of total capital, and then Foreign Direct Investment (FDI), which accounted for 2.86 percent ($243.36 million) of total capital imported in 2019.

Capital importation by banking dominated first quarter of 2019, reaching $2.85 billion of the total capital importation during the period.  – Daily Trust

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– July 3, 2019 @ 14:40 GMT |