By Modupe Gbadeyanka
Data released on Tuesday by the National Bureau of Statistics (NBS) has revealed that the total value of investment inflow into Nigeria in the second quarter of 2017 was estimated to be $1.79 billion.
The stats office, in its Capital Importation Data released yesterday, noted that the capital imported into Nigeria in the period under review was $884.1 million more than the figure recorded in the first quarter of the year, a growth of 95.02 percent.
It further disclosed in the report that year-on-year, this was an increase of 43.6 percent from the 1.04 billion recorded in Q2 2016.
A month-on-month analysis of capital importation in the second quarter shows the month of May recorded the highest of amount of capital importation ($616.5 million), followed by June with $612.6 million and April with $563.3 million.
NBS explained that the main driver of the quarterly growth in capital importation in the second quarter was Portfolio Investments, which increased by 145.7 percent.
This was closely followed by Other Investments, which grew by 95.02 percent and then Foreign Direct Investment (FDI), which increased by 29.8 percent other the previous quarter.
