In News by Oluwaseun Samuel on the 28th, August, 2020

Nigeria Suffers 78% Drop In Q2 Overseas Capital Inflows

Nigeria Suffers 78% Drop In Q2 Foreign Capital Inflows

The Nationwide Bureau of Statistics mentioned on Friday that international capital flows into Nigeria fell by 78 per cent to $1.29bn within the second quarter of this 12 months from $5.85bn in Q1.

The NBS, in its capital importation report for Q2 2020, mentioned the full worth of capital importation into the nation within the interval represented a lower of 77.88 per cent in comparison with Q1 2020 and 78.60 per cent in Q2 2019.

It mentioned international direct funding, which accounted for 11.47 per cent of the full capital imported into the nation, fell by 30.65 per cent to $148.59m from $214.25m in Q1 2020.

In keeping with the report, portfolio funding, which accounted for 29.76 per cent, plunged by 91.06 per cent to $385.32m from $four.31bn in Q1.

The statistics workplace mentioned the most important quantity of capital importation by kind was acquired via different investments (58.77 per cent), declining to $761.03m from $1.33bn in Q1.

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