Total Value of Capital Imported into Nigeria in Q4 2017 Estimated at $5,382.89m - NBS

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Thursday, March 01, 2018/ 09.30 AM /  NBS

Summary 

The total capital imported in the fourth quarter of 2017 was $5,382.9 million, this was an annual growth of 247.5%, and quarterly growth of 29.9%. As at the end of 2017, total capital imported into Nigeria was $12,228.6 million, an increase of $7,104.4 million or 138.7% from the figure recorded in 2016. 

The growth in Capital Importation in 2017 was mainly driven by an increase in Portfolio Investment, which went up by $5,516.2 million from the previous year to reach $7,329.1 million in 2017, and accounting for 60% of capital imported. During the reference quarter total capital imported when compared to the previous quarter increased by $1,237.8 million.
 

Figure 1: Capital Importation (Q1 2016 – Q4 2017)

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Capital Importation by Type 

Capital Importation is divided into three main investment types: Foreign Direct Investment (FDI), Portfolio Investment and Other Investments, each comprising various sub-categories. Portfolio Investment, which recorded $3,477.5 million in fourth quarter of 2017, remained the largest component of capital imported and contributed 64.6% of the total amount ($5,382.86). 

It increased significantly year on year, recording a rise of 1,123.5 % or $3,193.3 million (from $284.2 million to $3,477.5 million), expanding faster than the two other components of capital importation.  Foreign Direct Investment recorded $378.4 million in quarter 4, which is a year on year increase of 9.8%, while Other Investment recorded $1,526.9, growing by 66% when compared to quarter 4 of 2016.

 

Figure 2: Capital Importation Composition Q4, 2016 & Q4, 2017

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Foreign Direct Investment (FDI)

In Q4 2017, Foreign Direct Investment hit $378.4 million for the first time since Q4 2015 when it reported $123.2 million. This figure in q4 2017 was a substantial increase of 221.8% when compared to the 3rd quarter, and a 9.8% increase compared to Q42017. The growth in FDI was mainly driven by Equity Investments, which contributed 99.8%, while Other Capital Investment contributed 0.2%. 

Portfolio Investment

Portfolio Investment was the main driver of Capital Importation in the fourth quarter of 2017, with an amount of $3,477.5 million, representing a quarter on quarter growth of 25.7%. Year on year, it increased by 1,123.5%, which is over twelve times the figure recorded in Q4 2016($284.2 million). The increase in Portfolio Investment was driven by a strong growth in Money Market Instruments, which recorded $2,178.8 million, the first time since Q3 2013. Money Market Instruments contributed 63% to Portfolio investments. Equity which had been the main driver of Portfolio investments in previous quarters dropped by $942.9 million, from $1,932.1 million in Q3 to $989.2 million in Q4 2017. On the other hand, Bonds recorded an increase of $194.1 million, from $115.4 million in Q3 to $309.5 million in Q4 of the same year.

 Other Investments

Other Investment accounted for 28.4% of total capital importation in the fourth quarter of 2017. This category of capital importation grew 65.96% year on year, and by 21.2% when compared to the previous quarter. The $1,526.9 million recorded by Other Investment was mainly in the form of Loans, which was $1,091.2 million in the fourth quarter, followed by Other Claims which recorded $425.7 million, and then Trade credits which reported $10million, having posted no inflows since Q4 2016. 

Figure 3: Capital Importation by Type - (2016 Q1- 2017 Q4)

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Capital Importation by Sector 

Capital is either imported in the form of Shares, or directly imported by different sectors of the economy. Share capital investment, which is closely related to Equity investment (FDI and Portfolio) was largely responsible for huge increase in capital importation during the quarter. The component of shares has been on the increase since the first quarter of 2017 and by the fourth quarter it accounted for 68.4% of total capital importation. In the fourth quarter of 2017, of the $5,382.9 million capital imported, $3,680.3 million was invested as shares, representing a growth of 1,512.5% year on year. The proportion of Shares compared to total value of capital importation over the previous quarters is illustrated in figure 4.

Figure 4: Proportion of Shares to Total Capital Importation in million $2015 Q1- 2017 Q4

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In the fourth quarter of 2017, Banking became the second leading sector to attract the highest amount of capital inflow, attracting $543.4 million or 10.1% of total capital, an increase of 5.8% from the previous quarter.  Next to Banking was Production, which had 5.9% to total capital investment.  Capital Importation to Servicing dropped from $586.97 million in the previous quarter to $216.45 million in the fourth quarter, while $99.4 million flowed to Fishing sector. Capital Importation to Telecommunications, Financing and Construction sectors also increased strongly compared to the previous quarter.  

Figure 5: Capital Importation by Sector and Percentage Q4 2017

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Capital Importation by State 

According to the figures for the 4th quarter of 2017, Abuja attracted the highest amount of foreign capital, accounting for $2,680.3 million or 49.8%. This was an increase of 227.8% from the figure recorded in the third quarter of 2017 ($817.6million). Lagos which has always had the highest share of capital importation, had its share drop from 79.5% of total share in q3 2017, to a share of 47.4% in q4, 2017. Other states including Akwa Ibom, Ogun, Oyo and Delta also attracted foreign capital investments. 

Figure 6: Capital Importation Map by Receiving State in $ millions (2017 Q4)

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Capital Importation by Country of Origin 

The country from which Nigeria imported the most capital from was the United Kingdom, which accounted for $1,609.9. million, or 30% of the total of capital inflow in Q4,2017. This value was a decline of 7.3% relative to the figure in the previous quarter, and a 233.4% growth over the corresponding period of last year. As well as the existence of an historical relationship between the UK and Nigeria, London (the capital of the UK) is also a key financial centre, which explains the high value of foreign capital from the UK. Since 2010, the UK has accounted for the highest value of capital importation in all but two quarters (both in the second half of 2015). 

The country accounting for the second largest value of capital importation was the United States. The US accounted for $1,001.4 million in the fourth quarter of 2017, or 18.6%.  The US has also been one of the most important investors in Nigeria, usually either the largest or second largest investor country. It has also been historically the largest economy in the world and is active in foreign investment globally. The next two largest investors in the fourth quarter of 2017 were Belgium accounted for 10.2% and Singapore (7.7%).

Figure 7: Capital imported by Country of Origin in $ millions (2017 Q4)

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Capital Importation by Bank 

Capital is imported through financial institutions into the country. In the fourth quarter of 2017, the bank through which the highest share of capital was imported was Stanbic IBTC Bank plc, which accounted for 50.7% ($2,730.5 million) of the total share, up from the 40.2% share recorded in the third quarter of 2017. This was followed by Standard Chartered Bank, which accounted for 15.1% share or ($811 million) of capital importation. The top five banks through which capital was imported in the 4th quarter were Stanbic IBTC bank, Standard Chartered Bank, Zenith Bank, and Citibank Nigeria Limited, and Access bank plc, all accounting for 87% of capital importation in the fourth quarter. 

Figure 8: Share of Capital Importation by Bank (2017 Q4)

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Click Here to Download Q4 2017 Capital Importation (PDF) Report


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Latest 2018 NBS Reports

Q1 2018

1.       Nigeria’s GDP Grows in Real Terms by 1.92% in Q4 and 0.83% for Full Year 2017

2.      FAAC Disburses N655.18bn in January 2018 – NBS

3.      N254.10bn Generated as VAT in Q4 2017 – NBS

4.      Total Active Voice Subscription Increased by 3.69% in Q4 2017 – NBS

5.      18.36bn Litres of PMS Distributed State-wide in 2017 – NBS

6.      5.84m Students Enrolled in Junior Secondary Schools in 2016 - NBS

7.      2,489 Road Traffic Crashes Occurred in Q4 2017 - NBS

8.     Average Air Fare Increased by 7.34% YoY in January 2018 - NBS

9.      Headline Inflation Drops to 15.13% in January 2018; 0.24% Lower Than 15.37% December Rate

10.  Average Prices of PMS, AGO, HHK and Cooking Gas – January 2018

11.   7.82m Workers Are Registered Under the Pension Scheme as at Q4 2017 - NBS

12.  Daily Energy Generation Attained a Peak of 94,627MWh in Q4 2017 - NBS

13.  Banking Sector Records 461.98m Volume of Transactions in Q4 2017 - NBS

14.  77.5m Persons Engaged in Some Sort of Economic Activities in Q3 2017 - NBS

15.   Average Fare Paid by Passengers for Water Transport Increased by 6.05% MoM to N631.55 in Dec 2017

16.   Average Price of 1kg of Yam Tuber Decreased by -3.67% YoY to N211.61 in December 2017 - NBS

17.   Headline Inflation Drops to 15.37% in December 2017; 0.53% Lower Than 15.90% November Rate

18.   Average Prices of PMS, AGO, HHK and Cooking Gas – December 2017

19.   Active Voice Subscribers Dropped by 8.73% in Q3 2017 – NBS

20.  Inequality in Nigeria Worsened Between 2004 and 2013 But Improved in 2016 – NBS

21.   FAAC Disburses N609.96bn in December 2017 – NBS

 

2017 NBS Reports

Q4 2017

1.       FAAC Disburses N532.76bn in November 2017 - NBS

2.      Unemployment Rate Rises to 18.8% in Q3 2017 from 16.2% in Q2 2017

3.      Average Intercity Bus Fare Increased by 14.78% MoM in November 2017

4.      Average Price of 1kg of Tomato Increased by 8.09% YoY in November 2017

5.      Average Prices of PMS, AGO, HHK and Cooking Gas – November 2017

6.      Headline Inflation Drops to 15.90% in November 2017; 0.01% Lower Than 15.91% October Rate

7.      Banking Sector Records 213.69m Volume of Transactions in Q3 2017 - NBS

8.      Nigeria’s Merchandise Trade Grew Marginally Q-on-Q But Significantly Y-on-Y in Q3 2017

9.      2,478 Road Traffic Crashes Recorded in Q3 2017 - NBS

10.   States Generate N149.45bn as IGR in Q3 2017 - NBS

11.    Total Value of Capital Imported into Nigeria in Q3 2017 Estimated at $4,145.1m - NBS

12.   FAAC Disburses N558.08bn in October 2017 -NBS

13.   GDP Grew by 1.40% in Q3’17 from 0.72% in Q2’17; 2nd Consecutive Quarter of Positive Growth

14.   Average Motorcycle Fare per Drop Increased by 4.52% YoY in October 2017

15.   Average Prices of PMS, AGO, HHK and Cooking Gas – October 2017

16.   Headline Inflation Drops to 15.91% in October 2017, 0.07% Lower Than 15.98% September Rate

17.   Average Price of 1kg of Yam Tuber Increased by 10.22% YoY in October 20

18.   596,792 Passengers Travelled Via the Rail System in Q2 2017 - NBS

19.   7.71m Workers Are Registered Under the Pension Scheme as at Q3 2017 - NBS

20.  Daily Energy Generation Attained a Peak of 3,880MW in Q3 2017 - NBS

21.   FAAC Disburses N637.70bn in September 2017 - NBS

22.  GDP by Income and Expenditure Approach – Basic Price GDP Declined by 1.73% Real Term in Q4’16

23.  N246.30bn Generated as VAT in Q2 2017 - NBS

24.  Lagos State Has 7,396 Prison Inmates Population in 2016 - NBS

25.  Average Prices of PMS, AGO, HHK and Cooking Gas - September 2017

26.  Average Air Fare Increased by 31.31% YoY in September 2017

27.  Average Price of 1kg of Yam Tuber Increased by 28.65% YoY in September 2017

28.  CPI Drops to 15.98% in Sept 2017, 0.03% Lower Than 16.01% August Rate

29.  Multiple Indicator Cluster Survey 2016-17

30.  Pension Fund Asset under Management as at 31 December 2016 stood at N6,164.76bn - NBS

31.   835.58m Crude Oil Processed from 1997 to 2014

32.  N701.85bn Gross Revenue Generated in July 2017

 

Q3 2017

33.  FAAC Disburses N467.85bn in August 2017 - NBS

34.  Lagos Accounted for 74.8% of International Passenger Traffic in Q2 2017

35.  Lagos State Has the Highest Foreign and Domestic Debts as at June 2017

36.  CPI Drops to 16.01% in August 2017, 0.04% Lower Than 16.05% July Rate

37.  Average Air Fare Increased by 32.75% YoY in August 2017

38.  Average Prices of PMS, AGO, HHK and Cooking Gas - August 2017

39.  Average Price of 1kg of Yam Tuber Increased by 53.98% YoY in August 2017

40. Nigeria’s Merchandise Trade Grew Marginally QoQ but Significantly YoY in Q2 2017

41.   2,287 Drug Abuse Convictions Secured in 2016 - NBS

42.  Average Price of 1kg of Tomato Increased YoY by 15.65% in July 2017 - NBS

43.  Average Prices of PMS, AGO, HHK and Cooking Gas - July 2017

44. Average Intercity Fare Increased YoY by 27.49% in July 2017 - NBS

45.  CPI Drops to 16.05% in July 2017, 0.05% Lower Than 16.10% June Rate

46. Total Value of Capital Imported into Nigeria in Q2 2017 Estimated at $1,792.3m - NBS

47.  FAAC Disburses N652.23bn in July 2017 - NBS

48. Active Voice Subscribers Dropped by 6.67% in Q2 2017 – NBS

49. Banking Sector Records 327.37m Volume of Transactions in Q2 2017 - NBS

50.  870,397 Candidates Sat for NECO in June and July 2016

51.   3,457 Nigerians Repatriated from Abroad in 2016 – NBS

52.  Corruption in Nigeria - Bribery as Experienced by the Population

53.  Nigeria Produced 656.8m Barrels of Crude Oil in 2016

54.  2,503 Road Traffic Crashes Recorded in Q2 2017 - NBS

55.  Daily Energy Generation Attained a Peak of 4,079MW in Q2 2017 - NBS

56.  7.59m Nigerians Are Registered Under the National Pension Scheme as at Q2’17 - NBS

57.  FAAC Disburses N462.36bn in June 2017 - NBS

58.  NBS Annual Abstract of Statistics 2016

59.  Average Prices of PMS, AGO, HHK and Cooking Gas Price Watch - June 2017

60. Average Intercity Transport Fare Decreases to N1,559.68 in Jun’17 from N1,565 in May’17

61.   Average Price Of 1kg Of Yam Tuber Increased YoY by 32.84% in June 2017 -NBS

62.  CPI Drops to 16.10% in June 2017, 0.15% Lower Than 16.25% May Rate

 

Q2 2017

63.  FAAC Disburses N418.82bn in May 2017 - NBS

64. GDP By Income and Expenditure Approach – Basic Price GDP Declines by 2.3% in Q3’16 - NBS

65.  Average Price Watch of PMS, AGO, HHK and Cooking Gas - May 2017

66. Average Intercity Transport Fare Decreases to N1,5865. in May’17 from N1,587.04 in Apr’17

67.  Average Price Of 1kg Of Yam Tuber Increased YoY by 52.69% in May 2017 - NBS

68. CPI Drops to 16.25% in May 2017, 0.99% Lower Than 17.24% April Rate

69. N204.77bn Generated as VAT in Q1 2017 - NBS

70.  125,790 Cases of Reported Offences Recorded in 2016 - NBS

71.   Labour Productivity Rose to N684.43 in 2016 - NBS

72.  Merchandise Trade Grew By 0.1% - Positive Trade Balance Due to Rising Exports & Falling Imports

73.  Unemployment Rate Rises to 14.2% in Q4’16 from 13.9% in Q3’16 - NBS

74.  Lagos Airport Accounted for 76.5% of International Passengers in Q1 2017 - NBS

75.  FAAC Disburses N496.39bn in April 2017 - NBS

76.  Banking Sector Records 304.31 mln Volume of Transaction in Q1 2017 - NBS

77.  Total Value of Capital Imported into Nigeria in Q1 2017 Estimated at $908.27m - NBS

78.  GDP Contracts by -0.52% in Q1’17 from -1.73% in Q4’16; 5th Consecutive Quarter of Contraction

79.  Average Prices of PMS, AGO, HHK and Cooking Gas Price Watch – April 2017

80. Average Intercity Transport Fare Increases to N1,587.04 in Apr’17 from N1,466.46 in Mar’17

81.   Average Prices of 1kg of Yam Tubber Increased by 42.45% YoY in April 2017

82.  CPI Drops to 17.24% in April 2017, 0.02% Lower Than 17.26% March Rate

83.  Lagos, Rivers Top IGR for Full Year 2016

84. Telecoms Subscribers Dropped by 1.33% in Q1 2017 - NBS

85.  Nigeria Imports 4.05bn Litres of PMS in Q1 2017 - NBS

86. Lagos State has the highest domestic and foreign debt profile in 2016 - NBS

87.  2,556 Road Traffic Crashes Recorded in Q1 2017 - NBS

88. FAAC Disburses N466.93bn in March 2017

89. Daily Energy Generation Attained a Peak of 5,846 MW in Q1 2017 - NBS

90. Average Prices of PMS, AGO, HHK and Cooking Gas Price Watch - March 2017

91.   Average Intercity Transport Fare Increases to N1,466.46 in Mar’17 from N1,411.87 in Feb’17

92.  Average Prices of 1kg of Yam Tubber Increased by 63.4% YoY in March 2017

93.  CPI Drops to 17.26% in March 2017, 0.52% Lower Than 17.78% February Rate

94. 7.49m Nigerians Are Registered Under the National Pension Scheme As At Q1 2017 - NBS

95.  Lagos Airport Accounted for 69.1% of International Passengers in 2016 - NBS

 

Q1 2017

96. 11,363 Road Traffic Crashes Recorded in 2016 - NBS

97.  FAAC Disburses N514.15bn in February 2017

98. FAAC Disburses N430.16bn in January 2017

99. Average Intercity Transport Fare Decreases to N1,411.87 in Feb’17 from N1430.63 in Jan’17

100.   Average Price of 1kg of Rice Increased by 68% YoY in February 2017

101.     Average Prices of PMS, AGO, HHK and Cooking Gas Price Watch - February 2017

102.    CPI Drops to 17.78% in February 2017, 0.94% Lower Than 18.72% January Rate

103.    Nigeria Produced 43.49m Tons of Solid Minerals in 2016 - NBS

104.   NIPOST Generates N8.84bn Revenue in 2016 - NBS

105.    Q4 2016 Merchandise Trade Intensity - Total Trade Grows by 6.5% in 2016

106.    Merchandise Trade Grows in Q4 2016 - Records First Quarterly Positive Trade Balance Since Q4 2015

107.    GDP Contracts by -1.30% in Q4 and -1.51% for Full Year 2016; Is Nigeria on Its Way Out of Recession?

108.   JAMB Received 11.7m Applications Between 2010 and 2016

109.      Average Kerosene Price Increases to N433.84 in Jan'17 from N231.85 in Dec'16

110.       Average Intracity Transport Fare Increases to N122 in Jan'17 from N84.29 in Dec'16

111. Average Cooking Gas Price Increases to N2,567.56 in Jan’17 from N2,002.16 in Dec’16

112.Average Diesel Price Increases to N240.52 in Jan’17 from N196.20 in Dec’16

113.Average Petrol Price Increases to N148.7 in Jan'17 from N146.7 in Dec'16

114.      CPI Rises to 18.72% in January 2017, 0.17% Higher Than 18.55% December 2016 Rate

115.GENCOs Issued Total Invoice of N331bn to DISCOs in 2016

116.            Nigeria Produced 5.79 mln Tonnes of Fish Between 2010 and 2015

117.4,296 Applications Were Received by NAFDAC for New Products Registration in 2016 - NBS

118.            19,833 Vessels Berthed At Nigerian Ports Between 2013 and 2016 - NBS

119.            Total Value of Capital Imported into Nigeria in Q4 2016 Estimated at $1,548.88mln - NBS

120.           Telecoms Sector Contributes N1,399bn to GDP in Q3 2016 - NBS

121.FAAC Disburses N426.88bn in December 2016 - NBS

122.           Banking Sector Records 910.18m Volume of Transaction in 2016 on Electronic Payment Channels - NBS

123.           Daily Energy Generation Attained a Peak of 3,859.59MW in Q4 2016 - NBS

124.           10.8% of Nigeria's Total Working Population Are Registered Under The National Pension Scheme - NBS

125.           Nigeria Imports 4.83 bn Litres of PMS in Q4 2016 - NBS

126.           72.53% of Nigeria’s Prison Population in 2015 were Un-sentenced - NBS

127.           Lagos, Ogun Top IGR for H1 2016

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