The National Bureau of Statistics says foreign capital inflow to Nigeria has increased to $1.5 billion in the second quarter of 2022.
This is higher than the $875 million recorded during the same period in 2021.
The report by the NBS said the figure represents an increase of 75.34 per cent, although when it is compared to Q1 2022, indicates a 2.40 per cent decline from $1.573.14billion.
NBS, in the document, said that the largest amount of capital received was through portfolio investment, which accounted for 49.33 per cent ($757.32m). This was followed by Other Investment with 41.09 per cent ($630.87m) and Foreign Direct Investment (FDI) which accounted for 9.58 per cent ($147.16m) of total capital imported in Q2 2022.
By sector performance, capital importation into banking sector witnessed the highest inflow of $646.36million, accounting for 42.10 per cent of the total capital import, while capital imported into the production sector stood at $233.99million (15.24 per cent), with the financing sector following with $197.31million (12.85 per cent).
The report also said by country of origin, funds from the United Kingdom ranked top at $781.05million, accounting for 50.87 per cent, followed by Singapore and the Republic of South Africa at $138.58million (9.03 per cent) and $122.26million (7.96 per cent) respectively.
In terms of Destination of Investment, Lagos state was the top destination in Q2 2022 with $1,054.18million, accounting for 68.66 per cent of total capital investment into Nigeria. This was followed by investment into Abuja (FCT), valued at $453.95m (29.57 per cent).
