By Audrey Lotechukwu
TUE, 15 DEC, 2020-theGBJournal- The United Kingdom emerged as the top source of capital investment in Nigeria in Q3 2020 with $594.65m, accounting for 40.69% of the total capital inflow in Q3 2020, and by destination of Investment, Lagos state emerged as the top destination of capital investment in Nigeria in Q3 2020 with $1,208.74m. This accounted for 82.71% of the total capital inflow in Q3 2020.
The data is contained in the National Bureau of Statistics (NBS) Nigeria Q3 2020 Capital Importation report published Monday.
By Bank, Standard Chartered Bank Nigeria Limited emerged at the top of capital investment in Nigeria in Q3 2020 with $438.98m, accounting for 30.04% of the total capital inflow in Q3 2020.
The total value of capital importation into Nigeria stood at $1,461.49m in the quarter under review. This represents a increase of 12.86% compared to Q2 2020 and -74.03% decrease compared to the third quarter of 2019.
According to the NBS, the largest amount of capital importation by type was received through Other investment, which accounted for 43.75% ($639.44m) of total capital importation, followed by Foreign Direct Investment (FDI), which accounted for 28.38% ($414.79m) of total capital imported and Portfolio Investment which accounted for 27.87% ($407.25m) of total capital imported in Q3 2020.
By sector, Capital importation by Production dominated in Q3 2020 reaching $400.09m of the total capital importation in Q3 2020.
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