According to a report by the National Bureau of Statistics (NBS), only nine states in Nigeria received capital importation between January and March 2023. These states are Adamawa, Akwa-Ibom, Anambra, Ekiti, Lagos, Niger, Ogun, Ondo, and the Federal Capital Territory, Abuja. The remaining 28 states did not receive any capital importation during this period.
The report revealed that the total capital importation for the first quarter of 2023 amounted to $1.13 billion, showing a 6.8% increase compared to the fourth quarter of 2022, which recorded $1.1 billion.
Capital importation refers to the inflow of external resources into the local capital resources for investment, trade, and business production. The NBS categorizes capital importation into three main types: Foreign Direct Investment (FDI), Portfolio Investment, and Other Investments, each with various sub-categories.
The largest portion of capital importation came from Portfolio Investment, accounting for 57.32% ($649.28 million). Other Investments accounted for 38.31% ($435.76 million), while FDI (FDI) contributed 4.20% ($47.60 million).
In terms of sectors, the banking sector attracted the highest capital importation, totaling $304.56 million, which represented 26.89% of the total capital imported in Q1 2023. The production sector followed with $256.12 million (22.61%), and IT Services received $216.06 million (19.08%).
The NBS report provides insights into the flow of capital investment in Nigeria, highlighting the states and sectors that attract the most capital importation during the specified period.
