The total value of capital imported into Nigeria in the second quarter (Q2) of 2017 has been put at $1.792 billion, indicating a $884.1 million increase over the figure recorded in Q1 2017 and a growing appetite by portfolio investors in Nigerian securities.
This represented a 95.02 per cent growth, even as Foreign Direct Investment (FDI) also increased by 29.8 per cent over the previous quarter.
Data from the National Bureau of Statistics (NBS) stated that year-on-year there is an increase of 43.6 per cent from the $1.042 billion recorded in Q2 of 2016.
On the month-on-month analysis of capital importation in the second quarter, the month of May recorded the highest capital importation of $616.5 million, followed by June with $612.6 million and May with $563.3 million.
According to the NBS, the main driver of the quarterly growth in capital importation in the second quarter was portfolio investments, which increased by 145.7 per cent, followed by other investments, which grew by 95.02 per cent, and Foreign Direct Investment (FDI), which increased by 29.8 per cent over the previous quarter.
The report added that portfolio investment dominated capital importation in the second quarter of 2017 with a value of $770.51mln capital imported.