By Modupe Gbadeyanka

Last week, the National Bureau of Statistics (NBS) revealed in a report that the total value of capital importation into Nigeria stood at $5.5 billion in the second quarter of 2018.

According to the report, this was a decrease of 12.53 percent compared with Q1 2018, but a 207.62 percent increase compared with the second quarter of 2017.

It was disclosed that the decline recorded in the second quarter was as a result of a decline in Portfolio and Other Investments, which declined by 9.76 percent and 24.07 percent respectively.

The largest amount of capital importation by type was received through Portfolio investment, which accounted for 74.7 percent ($4.1 billion) of total capital importation, followed by Other Investment, which accounted for 20.5 percent ($1.1 billion) of total capital, and then Foreign Direct Investment FDI, which accounted for 4.7 percent ($261.4 million) of total capital imported in the second quarter.

However, an analysis of the report by Business Post showed that out of the $5.5 billion of the nation’s capital importation for the period under review, Abuja, Lagos and Abia States contributed 99.28 percent, while the remaining 34 states of the federation added a meagre 0.72 percent to the total value.

According to the stats office, the Federal Capital Territory (FCT) Abuja, at $2.6 billion, maintained its lead among recipients of capital import in the second quarter of 2018 after surpassing Lagos in the fourth quarter of 2017.

This represented 46.21 percent of the total capital importation into Nigeria in the quarter under review.

Abuja was followed by Lagos, which received the second largest amount of capital inflow of $1.7 billion or 30.08 percent of the total.

When compared with the preceding quarter, however, the capital inflow into Abuja and Lagos, declined by 28.13 percent and 37.80 percent respectively.

Furthermore, Abia State received $1.3 billion, accounting for 22.99 percent of the total capital importation in the quarter.

In all, Abuja, Lagos, and Abia together represented more than 99 percent of the total capital import in the second quarter.

The NBS said in its report that foreign capital investment in Akwa Ibom and Ogun States recorded $16.10 million and $12.74 million respectively, a decline of 63.09 percent and 48.05 percent, over the previous quarter.

Enugu State, which only had marginal foreign inflow previously, recorded $1.31 million in the second quarter and became the eighth top destination in Nigeria to attract foreign capital investment.

https://www.businesspost.ng/2018/08/27/abuja-lagos-abia-contribute-99-to-nigerias-5-5b-capital-importation-in-q2/

Wow, very interesting and revealing!! For a state like Abia to receive such staggering foreign capital inflows is massive and running neck on neck with Abuja and Lagos is very impressive to say the least. It's obvious that Lagos has finally reached saturation point and is now gradually losing out to others.

Abia has a huge potential to emerge as a frontier state if only it'd governors can think outside the box. Aba alone has immense potentials, the exact type that made China and the Asian Tigers to become prosperous. The governors should reposition the international markets within the city, improve infrastructure in the city's many industrial estates, allow Geometric power to supply non stop electricity to homes, markets and industries. Improve on the sanitation and roads etc and watch how Enyimba city will rise to become a great city.

For a single city to be supplying the whole of Nigeria and beyond with consumer goods like shoes, belts, bags, boxers, singlets, suits, trousers, shirts, bed spreads on a mass scale is indeed very impressive!!

Enyimba City is on the RISE. Not only is Abia state doing well educationally, their economic activities is growing exponentially.

Aba businesses and manufacturers export so many goods daily to not just other states but to other countries.


Lalasticlala

Interesting

BiafraIShere:
Abia has a huge potential to emerge as a frontier state if only it'd governors can think outside the box. Aba alone has immense potentials, the exact type that made China and the Asian Tigers to become prosperous. The governors should reposition the international markets within the city, improve infrastructure in the city's many industrial estates, allow Geometric power to supply non stop electricity to homes, markets and industries. Improve on the sanitation and roads etc and watch how Enyimba city will rise to become a great city.

Two things: Give Aba constant Electricity and Good Roads and its over. The rest they say will be history.

The Enyimba Economic City plan; Construction to begin towards the end of this year. Private led investment in Aba

BiafraIShere:
Abia has a huge potential to emerge as a frontier state if only it'd governors can think outside the box. Aba alone has immense potentials, the exact type that made China and the Asian Tigers to become prosperous. The governors should reposition the international markets within the city, improve infrastructure in the city's many industrial estates, allow Geometric power to supply non stop electricity to homes, markets and industries. Improve on the sanitation and roads etc and watch how Enyimba city will rise to become a great city.

I totally agree with you. No wonder FG is focusing some infrastructures in SE with Aba as a focal point.


Ndi Aba...Jisienu ike

I'm impressed

Aba made products has truly changed the lives of many Nigerians

If not for the Igbo's

Would Lagos have been this developed?

cc: Lalasticlala

ok

One would have expected Anambra to b in dat list ahead of Abia... Na wa ooo, how only 3 states account for 99% shows jus how most states are jus making up numbers

horsepower101:


Two things: Give Aba constant Electricity and Good Roads and its over. The rest they say will be history.

Give?

Just give us constant light and good road... We will restrcture Nigeria!!!






Proudly Nwa Aba...



Onye Ngwa for that matter...



#MySignatureMyBusiness

Most of these capital importation was courtesy of G-Boys..

BiafraIShere:
Wow, very interesting and revealing!! For a state like Abia to receive such staggering foreign capital inflows is massive and running neck on neck with Abuja and Lagos is very impressive to say the least. It's obvious that Lagos has finally reached saturation point and is now gradually losing out to others.

That statement is all that matters to you Lagos Haters Association. When Lagos gets tired, Ogun state will take over...your hypertension is just starting o!

Una don start.. Developers

SolutionMee:
I'm impressed

Aba made products has truly changed the lives of many Nigerians

If not for the Igbo's

Would Lagos have been this developed?

What of Katsina? And Kano where underaged voters are used to win elections.

igbo kwenu!!!

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Import? Not export

SolutionMee:
I'm impressed

Aba made products has truly changed the lives of many Nigerians

If not for the Igbo's

Would Lagos have been this developed?

Shut up man, you guys should stop these shameless statements. I'm Igbo but this beating of chest for nothing really should stop. Without Igbos, Lagos would still do great if not better.

Please, do not tribalise the thread, thank you.

BiafraIShere:
Abia has a huge potential to emerge as a frontier state if only it'd governors can think outside the box. Aba alone has immense potentials, the exact type that made China and the Asian Tigers to become prosperous. The governors should reposition the international markets within the city, improve infrastructure in the city's many industrial estates, allow Geometric power to supply non stop electricity to homes, markets and industries. Improve on the sanitation and roads etc and watch how Enyimba city will rise to become a great city.

You're right.

Nbote:
One would have expected Anambra to b in dat list ahead of Abia... Na wa ooo, how only 3 states account for 99% shows jus how most states are jus making up numbers

Anambra is more of capital exportation than importation courtesy of goods importation by traders..

Yoshy:


Shut up man, you guys should stop these shameless statements. I'm Igbo but this beating of chest for nothing really should stop. Without Igbos, Lagos would still do great if not better.

I bu onye ebe? Gini bu aha nna gi?

Na this meme dey sweet me die.

Apanometer

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