The total value of capital importation into Nigeria in Q3 2022 stood at US$1,159.67 million from US$1,731.37 million in Q3 2021, showing a decrease of 33.02%. When compared to the preceding quarter, capital importation fell by 24.47% from US$1,535.35 million in Q2 2022. The largest capital importation in Q3 2022 was received through Other Investment, which accounted for 54.83% (US$635.87 million). This was followed by Portfolio Investment with 38.12% (US$442.08 million) and Foreign Direct Investment (FDI) with 7.05% (US$81.72 million). Disaggregated by Sectors, capital importation into banking had the highest inflow of US$368.95 million, representing 31.82% of total capital imported in Q3 2022. This was followed by the financing sector, valued at US$314.90 million (27.15%), and capital importation in shares with US$104.58 million (9.02%).
Capital Importation by Country of Origin reveals that capital from the United Kingdom ranked top in Q3 2022 with US$506.87 million, accounting for 43.71%. This was followed by Singapore and Hong Kong valued at US$184.86 million (15.94%) and US$106.39 million (9.17%) respectively. By Destination of Investment, Lagos state remained the top destination in Q3 2022 with US$839.71 million, accounting for 72.41% of total capital investment in Nigeria. This was followed by Abuja (FCT), valued at US$303.81 million (26.20%). Categorization of Capital Importation by Banks shows that Stanbic IBTC Bank Plc ranked top in Q3 2022 with US$301.84 million (26.03%). This was followed by Citibank Nigeria Limited with US$274.19 million (23.64%) and Standard Chartered Bank Nigeria Limited with US$233.34 million (20.12%).