According to the Capital Importation report from the National Bureau of Statistics (NBS), Nigeria’s banking sector made the largest contribution to the country’s total capital importation in the second quarter of 2024.
This growth in capital importation is a result of foreign capital or investments flowing into the country. These inflows typically come in various forms, such as financial resources, physical assets, or other types of investments. Such investments play a crucial role in funding business ventures, projects, and sectoral developments, which ultimately boost the nation’s economy.
The NBS report highlighted that Portfolio Investment dominated capital inflows, accounting for US$1.4 billion, or 53.93% of the total. This was followed by Other Investments, which contributed US$1.17 billion, or 44.92%.
Foreign Direct Investment (FDI), however, made up the smallest share, with just US$29.83 million, representing 1.15% of total capital importation during Q2 2024.
Here are the top 10 sectors in Nigeria with the highest contributions to capital importation in the second quarter of 2024.
Seunmanuel Faleye is a brand and communications strategist. He is a covert writer and an overt creative head. He publishes Apple’s Bite International Magazine.
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