Britain tops capital imports into Nigeria in 2018

Nigeria records 2.38% GDP growth in Q4 2018 - NBS
Illustrative picture. PHOTO CREDIT: SHIPS & PORTS archive

The United Kingdom accounted for 35.74 percent of the total capital investment inflow into Nigeria in 2018, which stood at $16,812.47 million.

According to data released by the National Bureau of Statistics (NBS) on Wednesday, capital investment from Britain stood at $6,007.99 million.

The NBS noted that the largest amount of capital importation last year by type was received through portfolio investment, which accounted for 70.20 percent ($11,802.27 million) of total capital importation.

It said other investment, was the second largest accounting for 22.69 percent ($3,815.53 million) of total capital and lastly by Foreign Direct Investment (FDI), which accounted for 7.11 percent ($1,194.67 million) of total capital imported in the review year.

The bureau said by sector, capital importation by shares, which is closely related to equity investment (FDI and Portfolio Investment) dominated 2018 reaching $10,425.18 of the total capital importation in 2018.

Similarly, NBS said for the last quarter of 2018, capital importation into the country stood at $2,140.08 million, down 25.05 percent compared to the third quarter and down 60.24 percent compared to the fourth quarter of 2017.