Brand Nigeria: Foreign Investment Drops Again By $1.6bn 

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Nigeria’s brand value continues to slide downwards as the total value of foreign investment or capital importation into the country dropped by $1.6 billion in the first quarter of 2022.

According to the data, capital importation dropped by 17.5 percent from $1.9 billion recorded in Q1 2022.

Lagos State remained the top destination for investments in Q1 2022 with $1.1 billion accounting for 71.16% of total capital investment into Nigeria. This was followed by investment in Abuja (FCT), valued at $446.81 million (28.40%).

“The largest amount of capital importation by type was received through Portfolio Investment, which accounted for 60.9 percent ($957.6 million). This was followed by Other Investment with 29. 3 percent ($460.6 million) and Foreign Direct Investment accounted for 9.9 percent ($154.9 million) of total capital imported in Q1 2022,” the report stated.

The report also highlighted that in terms of Sectors, capital importation into banking had the highest inflow of $818.8 million amounting to 52.1 percent of total capital imported in the first quarter of 2022.

This was followed by capital imported into the production sector, valued at $223.7 million (14.2 percent), and the financing sector with $199.37 million (12.7 percent).

In terms of country of origin, the United Kingdom ranked top as the source of capital imported into Nigeria in Q1 2022 with a value of $1.021.2 million, accounting for 64.9 percent.

This was followed by the Republic of South Africa and the United States of America valued at $117.5 million (7.5 percent) and $82.1million (5.2 percent) respectively.

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