Nigeria’s capital inflow dropped by 78.2% in the second quarter of 2020 when compared to Q2 of 2019.
The country received $1.29 billion capital importation during this period.
The largest amount of capital importation by type was received through other investment, which accounted for 58.77% ($761.03 million) of total capital imported, followed by Portfolio Investment, which accounted for 29.76% ($385.32 million), and Foreign Direct Investment (FDI), which accounted for 11.47% ($148.59 million) of total capital imported in the second quarter of 2020.
The United Kingdom emerged as the top source of capital investment to Nigeria in Q2 2020 with $428.83 million.
This accounted for 33.12% of the total capital inflow in Q2 2020. In terms of destination of investment during the period under review, Lagos State took the top spot with $1.13 billion. This accounted for 87.30% of the total capital inflow in Q2 2020.
In Nigeria, Lagos state had more capital investment in the period under review.