Nigeria’s Capital Investment Inflows Drop To $1.29bn In Q2 2020

  • 📰 channelstv
  • ⏱ Reading Time:
  • 35 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 63%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

Nigeria’s Capital Investment Inflows Drop To $1.29bn In Q2 2020

The total value of capital importation into Nigeria dropped to $1.29 billion in the second quarter of 2020 from the $5.854 billion reported in the first quarter of 2020, latest data from the National Bureau of Statistics shows.

“The total value of capital importation into Nigeria stood at $1,294.94m in the second quarter of 2020. This represents a decrease of -77.88% compared to Q1 2020 and -78.60% in Q2 2019. “By Bank, Standard Chartered Bank Nigeria Limited emerged at the top of capital investment in Nigeria in Q2 2020 with $425.21m. This accounted for 32.84% of the total capital inflow in Q2 2020,” the report stated.The country’s Foreign Direct Investment in the quarter stood at $148.59 million, it’s quarterly lowest in about 3 years, largely due to the ravaging impact of the Covid-19, which saw lots of investors play a wait-and-see game at the initial stage of the outbreak this year.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 7. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines