The National Bureau of Statistic has released its 2014 report on Capital Importation in Nigeria. The report shows that a total of $4.49billion dollars of investment capital was imported into Nigeria for the fourth quarter ending December 2014. The report also shows that a sharp decline of $2,042.84 million or 31.22% was recorded from the value of $6,542.58 million that was recorded in the preceding quarter, which represented the peak value for the year. Despite this, the closing quarter of the year 2014 was still greater than the $3,904.55 million of capital imported in the opening quarter, by $595.18 million or 15.24%.
Total capital imported in the year of 2014 summed to $20,750.76 million, lower by $576.61 million or 2.66% from the $21,318.38 million that was imported in 2013. The annual decline was primarily due to the reduction in the value of capital imported in the fourth quarter of 2014, which was expected, as investor confidence is low during the build up to a Presidential election, which in Nigeria was scheduled to hold in February of 2015.
Key highlights of the report
- Capital Importation can be divided into three main investment types: Foreign Direct Investment (FDI), Portfolio Investment and Other Investments, each comprising various subsectors.
- Portfolio Investment makes up the largest portion of total capital imported
- Portfolio Investment, at a value of $2,003.10 million declined by $3,124.65 million or 60.94% from its quarter three value of $7,127.75 million.
- Its subsequent share of total capital imported therefore declined from 78.38% in quarter three of 2014, to just 44.52% in quarter four.
- Year on year, this represented a decline of a lesser $1,392.66 million or 41.01%, from the quarter four 2013 total of $3,395.76 million, which was 72.54% of total capital imported.
- FDI increased from a value of $544.50 million in quarter three of 2014, by $224.35 million or 41.20% to reach $768.86 million in quarter four. This continued the observed steady rise in FDI capital imported throughout 2014, representing year on year growth of $647.04 million or 531.14%.
Get the full Capital Importation report here