The National Bureau of Statistic has released its Q3 and Q4 2015 report on Capital Importation in Nigeria. The report showed that the total value of Capital imported into Nigeria in the Third Quarter of 2015 was $2,748.10 million, up 3.07% from the preceding quarter. This was followed by a total of $1,556.95 million in the fourth quarter, a decline of 43.34% from levels recorded in the previous quarter. The total for 2015 was recorded at $9,643.01 million. This represents a 53.53% fall on the previous year, when the total was $20,750.76 million. Each consecutive quarter of 2015 saw a larger annual fall than the previous; in the third and fourth quarter, Capital inflows were respectively 58.00% and 65.40% lower than in the same quarters of 2014.
The third quarter also saw a large change in the composition of Capital imported. In every preceding quarter since 2009, Portfolio Investment has been the largest component, however as a result of a large quarterly decline in the third quarter (53.73%) and large quarterly increases in Foreign Direct and Other Investment (239.93% and 275.36% respectively), Other Investment became the largest component and accounted for $1,021.26 million, or 37.16%. This compares with Portfolio Investment worth $1,009.13 million and Foreign Direct Investment worth $717.71 million accounting for 36.72%, and 26.12% respectively.
In the final quarter of 2015, this change was reversed, as although Portfolio Investment fell by 5.61% between the third and final quarters, Other Investment fell by 52.87% and Foreign Direct investment also fell by 82.84%.As a result, Portfolio Investment accounted for 61.18%, Other investment accounted for 30.91%, and Foreign Direct investment accounted for 7.91%. For the year as a whole, Portfolio investment recorded the biggest decrease, of 59.74%, but remained the largest component, and accounted for 62.28%, compared to 15.00% for Foreign Direct and 22.72% for Other Investment.