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.