Nigeria Attracts $31.82bn Six Countries In 33 Months

From January 2019 to September 2021 the capital inflows from the United Kingdom, the United States, South Africa, the United Arab Emirates, the Netherlands, and Mauritius hit $31.82 billion in three years.

According to data from the National Bureau of Statistics, the six countries accounted for 83.32 percent of the total capital of $38.18bn imported into Nigeria from over 100 countries.

The UK accounted for the highest foreign inflow of $17.34bn, followed by the US ($5.79bn), South Africa ($3.99bn), UAE ($1.80bn), Netherlands ($1.68bn), and Mauritius ($1.09bn).

The capital importation which is obtained from the Central Bank of Nigeria includes imported physical capital, such as equipment, and financial capital importation.

The capital importation comprises three main investment categories, namely foreign direct investment, foreign portfolio investment, and other investments.

Also, FDI includes equity and other capital, while FPI includes equity, bonds, and money market instruments; ‘other investments’ include trade credits, loans, currency deposits, and other claims.

In 2019, Capital inflow from the six countries declined from $20.09bn in 2019 to $7.94bn in 2020. It stood at $3.78bn in the nine months to September 2021.