Turning the Tide Nigeria Sees Capital Inflows Rebound
Recently released by the National Bureau of Statistics (NBS), the Q4:2023 capital importation report reveals a 2.62% year-on-year (YoY) increase, reaching USD1.09bn compared to the USD1.06bn recorded in Q4:2022. This growth stems from a significant rise in two major components: Foreign Direct Investment (+ 118.42% YoY to USD 183.97mn) and Foreign Portfolio Investment (+8.59% YoY to USD 309.76mn). However, Other Investment declined by 13.96% YoY to USD594.75mn during this period.
Quarter-on-quarter (QoQ), total capital importation demonstrated a robust performance, surging by 66.27% QoQ, driven by growth across FDI (+207.80% QoQ), FPI (+255.60% QoQ), and other investment (+17.13% QoQ) components.
