Capital Importation Alert September 2019, The Nigerian Economic Summit Group
Sep 2019

Capital Importation hits US$5.8 billion in the second quarter of 2019

According to the National Bureau of Statistics (NBS), capital importation in second quarter of 2019 (2019Q2) rose by 5.6% to $5.8 billion, from $5.5 billion in 2018Q2. However, this is 31.4% below the $8.5 billion reported in 2019Q1. The Nigerian economy continued to attract foreign capital, although a large chunk of this inflow was hot money, which could be withdrawn at any point in time. As a result of the surge in 2019Q1, capital inflows in the first half of 2019 reached $14.3 billion, which was 21.1% higher than $11.8 billion in 2018H1. Consequently, 2019FY capital inflow is expected to largely surpass 2018FY levels.