The nation

Nigeria’s foreign investment slumps in 2ndquarter 2021 – NBS

Published

4 years ago

July 29, 2021

The total value of capital importation into Nigeria declined to $875.62million in the second quarter of 2021 from $1,905.89million in the first quarter of 2021.

The National Bureau of Statistics, NBS, disclosed this in its document entitled: “Nigerian Capital Importation – Q1 & Q2 202.”

According to the bureau, this represents a decrease of -54.06 percent compared to Q1 2021 and -32.38 per cent decrease compared to the second quarter of 2020.

The data added: “By Destination of Investment, Lagos state emerged as the top destination of capital investment in Nigeria in Q2 2021 with $780.06million. This accounted for 89.09 percent of the total capital inflow in Q2 2021.”

The document noted that the largest amount of capital importation by type was received through Portfolio investment, which accounted for 62.97 percent ($551.37million) of total capital importation, followed by Other Investment, which accounted for 28.13 percent ($246.27million) of total capital imported and Foreign Direct Investment (FDI), which accounted for 8.90 percent ($77.97million) of total capital imported in Q2 2021.

According to NBS, the United Kingdom emerged as the top source of capital investment in Nigeria in Q2 2021 with $310.26million.

This accounted for 35.43 percent of the total capital inflow in Q2 2021, it said.

By bank, Stanbic IBTC Bank Plc emerged at the top of capital investment in Nigeria in Q2 2021 with $310.21million. This accounted for 35.43 per cent of the total capital inflow in Q2 2021.

By sector, Capital importation by Banking dominated in Q2 2021 reaching $296.51million of the total capital importation in Q2 2021.

On total capital importation, the report said: “The total value of capital importation into Nigeria declined to $875.62million in the second quarter of 2021 from $1,905.89million in the first quarter of 2021.

“This represents a decrease of -54.06 per cent compared to Q1 2021 and -32.38 per cent decrease compared to the second quarter of 2020.”

Headlines

Tinubu arrives Katsina to receive Buhari’s body for burial

Published

3 days ago

July 15, 2025

Matthew Eloyi

President Bola Tinubu, on Tuesday arrived in Katsina to receive the remains of the former President Muhammadu Buhari, who passed away in London on Sunday at the age of 82.

The News Agency of Nigeria (NAN) recalls that Vice-President Kashim Shettima departed London in the early hours of Tuesday with the remains of Buhari back to Nigeria.

On arrival at the Umaru Musa Yar’adua Airport Katsina, Tinubu was received by Gov. Dikko Radda, former Vice-President Yemi Osinbajo, governors, Chairman of Dangote Group, Alhaji Aliko Dangote, Deputy Senate President, Jibrin Barau, and Speaker of the House of Representatives, Tajudeen Abbas.

Others are Ministers, former governors, former and serving Senators, Alhaji Dahiru Managl, former Minister of Information and Culture, Lai Mohammed, members of the All Progressives Congress (APC) National Working Committee (NEC), amongst others.

Headlines

King Mohammed VI Mourns Buhari, Praises Legacy of Nigeria’s Former Leader

Published

3 days ago

July 15, 2025

Matthew Eloyi

His Majesty King Mohammed VI of Morocco has extended heartfelt condolences to President Bola Tinubu, the family of the late former President Muhammadu Buhari, and the entire Nigerian people following Buhari’s death.

In a message of sympathy, the Moroccan monarch described the passing of the former Nigerian leader as a “sad occurrence,” expressing deep sorrow over the loss.

King Mohammed VI hailed Buhari as “an illustrious leader who worked untiringly to serve his country’s best interests and lead his people toward further progress and prosperity.”

He added: “Our thoughts and prayers are with you and the bereaved. I share your grief and want you to know how much I appreciated the working sessions I had with the deceased.”

Reflecting on their bilateral engagements, the king noted that his collaboration with Buhari led to the launch of promising development projects, “ushering a new era grounded in friendship and close cooperation between our two sister nations.”

Headlines

Nigeria Mourns as Buhari’s Remains Arrive Today for Burial in Daura

Published

3 days ago

July 15, 2025

Matthew Eloyi

Vice-President Kashim Shettima has departed London for Nigeria, accompanying the remains of former President Muhammadu Buhari, who died on Sunday at a London clinic.

This was disclosed in a statement issued on Tuesday in Abuja by Mr. Stanley Nkwocha, Senior Special Assistant to the President on Media and Communications, Office of the Vice-President.

“I can only confirm that the Vice-President Kashim Shettima, as directed by President Bola Tinubu, has departed London for Nigeria in the company of some family members of the late former President Muhammadu Buhari,” Nkwocha stated.

“They are accompanying the remains of the late former President for burial in Daura, Katsina State later today. Other members of the Federal Government’s delegation, as sent by President Tinubu, have also departed for Nigeria,” he added.

The News Agency of Nigeria (NAN) reports that the Federal Government has declared Tuesday a public holiday in honour of the late President, who passed away at the age of 82.

The holiday forms part of a seven-day national mourning period earlier announced by President Tinubu to pay tribute to Buhari’s life, leadership, and legacy.

Buhari’s death was confirmed in a statement by his former Special Adviser, Garba Shehu, on Sunday evening.