Trending News: Yabatech Lecturer Akindele Omotosho Extorts ‘Ordinary N500’ From Students ‘for Dockets’Anthony Okocha Becomes APC Chairman in Rivers Despite Confessing He Rigged ElectionsArmed Criminals Ambush El-Kanemi Football Team in Bauchi, Police UnawareEsther Fadipe of ‘Slay With Funmi’ Blocks Osun Resident Who Paid N173,100 for Fashion ItemsFisayo Soyombo’s Words on How, Why Army Held Him Incommunicado for 3 DaysDismissed Edo Cop Edith Uduma Claims N1m Bribe Demand Was ‘Sarcastic’ Following Audio EvidenceDana Air Withholds Lagos Resident’s N518,200 Refund for 7 MonthsZulum Said Minors Should Have Been Punished for Protesting. 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Ogun Govt Withheld ItWhat Happened to Monday: The Simon Ekpa AnalysisAfter EQ's Story, Arik Air Refunds Customer’s N201,50029-Year-Old Regains Freedom After 10 Years in Prison for Robbery He Didn’t CommitECOWAS Court Orders Police to Pay Gloria Okolie N30m for Detaining Her as ‘IPOB Spy’X Accounts Push Misinformation About Finnish President’s Support After Ekpa’s DetentionAfter EQ's Story, OPay Replaces Oyo Businessman’s Seized PoS MachineMurdered Residents, Killed Security Operatives… Simon Ekpa’s Recent Acts of TerrorLagos Police Succumb to Media Pressure, Release Abductee, Forgo Ransom DemandFullrange MFB Deducts Excess N205,200 From NSCDC Officer’s Account, Stays Mute on RefundIkeja Electric Delays Customer’s 7-Day Meter Repair for 2 MonthsJUST IN: Finnish Court Imprisons Simon Ekpa for Promoting TerrorismJUST IN: Finnish Court Imprisons Simon Ekpa Over Terrorism Promotion‘I Was Not Appointed Through Press Release’, Says Sacked UNIZIK VCIPPIS Lets Unknown Crevance Credit Deduct Non-Existent Loan From Civil Servant’s SalaryTo Get to Suspect, Lagos Police Abduct His Cousin From Ogun, Demand N2m BailGov Uzodinma’s Staff Delay Repair of Cab They Wrecked, Render Abuja Driver Jobless Since AugustNo Mention of Officer’s Arrest as IGP Orders Transfer of Osun Police Shooting Case to AbujaALERT: Smuggled, Low-Quality Sugar Brands Found in Nigerian MarketAudit Report Reveals Fashola’s Works Ministry Spent N4.6bn Without Approval, Appropriation‘I Couldn’t Go to Work’ — Tension Grips Osun Residents After Police Shoot Transport Union ChairmanArmy Reduces Beating of Abuja Man by Major General, Corporal to ‘Allegation’, Mere ‘Altercation’Major General G.S. 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Courts Could Strike ThemNo Funding, No Ambassadors for 14 Months Indicate Tinubu Cares Less About Foreign MissionsUPDATED: House of Reps Confirms Oluyede as New Army ChiefAmnesty Int’l Demands Public Apology From FG for ’24 Killed, 1,200 Arrested’ in #EndBadGovernance ProtestAUDIO: How Dismissed Edo Cop Edith Uduma Demanded N1m From Rapist Colleague to Bury CaseNiger Proposes N1.2trn 2025 Budget Despite Multi-Billion UnderperformanceEx-Minister Mamman Spent N20m Mambilla Fund to Lodge in Resort, Witness Tells CourtKidnappers of Kaduna Siblings Demand N300m Ransom, Threaten to Kill Toddler ‘Because of Disturbing Cries’Lagos Man Paid Expedia Consult’s Beverly Basil N4m for Canada Admission in 2023. 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Sun. Dec 1st, 2024

‘Nigeria’s Capital Importation Fell 22.85% Between April, June’, NBS Reports

The National Bureau of Statistics (NBS) has reported that Nigeria’s capital importation fell by 22.85% to $2.6 billion in the second quarter.

Capital importation includes the funds or financial resources such as assets that come into a country through foreign investors or companies.

According to the report published on Tuesday, the NBS stated that the $2.6 billion means that capital decreased from Q1’s $771.51 million, a 22.85% drop.

READ ALSO: After ‘Social Media Suspension’ Comment, NCoS Replaces DCP Who ‘Beat Inmates Like Goats’

However, the report stated that the $2.6 billion in Q2 2024 means that the country witnessed an increased capital importation on year-on-year terms when compared with the same quarter in 2023, which was just $1.30 billion.

“The banking sector recorded the highest inflow with US$1,123.95 million, representing 43.15% of total capital imported in Q2 2024, followed by the Production/Manufacturing sector, valued at $624.71 million (23.99%), and Trading sector with $569.22 million (21.86%),” the report highlighted.

“Capital Importation during the reference period originated largely from the United Kingdom with $1,120.15 million, showing 43.01% of the total capital imported. This was followed by the Netherlands with $577.82 million (22.19%) and the Republic of South Africa with $255.98 million (9.83%).”

The report also showed that Lagos and Abuja received almost 100% of the inflows at $1,367.84 million (52.52%) and $1,236.64 million (47.48%) respectively. Ekiti State received $0.0003 of the inflows.

The report also highlighted that banks received the highest percentage of the capital imports.

“Citibank Nigeria Limited received the highest capital importation into Nigeria in Q2 2024 with S$818.46 million (31.43%), followed by Standard Chartered Bank Nigeria Limited with $654.79 million (25.14%) and Rand Merchant Bank Plc with $488.59 (18.76%),” the NBS wrote.
The post ‘Nigeria’s Capital Importation Fell 22.85% Between April, June’, NBS Reports appeared first on Foundation For Investigative Journalism.

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    • Michael Hundeyin

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