Nigerian Capital Importation (Q2 2019) Report Date: September 2019 Contents Summary 1 Capital Importation by Type of Investment – Q2 2 Q2 2017 to Q2 2019 4 Capital Importation by Sector – Q2 8 Capital Importation by Destination – Q2 9 Capital Importation by Bank – Q2 15 Capital Importation by Country of Origin 21 Appendix - Tables 24 Methodology 29 Acknowledgment and Contact 30 Executive Summary The total value of capital importation into Nigeria stood at $5,820.21m in the second quarter of 2019. This represents a decrease of -31.41% compared to Q1 2019 and +5.56% increase compared to the second quarter of 2018. The largest amount of capital importation by type was received through Portfolio investment, which accounted for 73.76% ($4,292.89m) of total capital importation, followed by Other Investment, which accounted for 22.41% ($1,304.43m) of total capital imported and Foreign Direct Investment (FDI), which accounted for 3.83% ($222.89m) of total capital imported in Q2 2019. By sector, Capital importation by banking dominated in Q2 2019 reaching $1,892.50m of the total capital importation in Q2 2019. The United Kingdom emerged as the top source of capital investment in Nigeria in Q2 2019 with $3,134.47m. This accounted for 53.85% of the total capital inflow in Q2 2019. By Destination of Investment, Lagos state emerged as the top destination of capital investment in Nigeria in Q2 2019 with $4,137.66m. This accounted for 71.09% of the total capital inflow in Q2 2019. By Bank, Stanbic IBTC Bank Plc emerged at the top of capital investment in Nigeria in Q2 2019 with $1,765.64 million. This accounted for 30.34% of the total capital inflow in Q2 2019. 1 Nigerian Capital Importation - Q2 2019 NIGERIAN CAPITAL IMPORTATION – Q2 2019 Capital Importation by Type of Investment – Q2 ($ million) Q2 2019 FOREIGN DIRECT INVESTMENT Foreign Direct Investment Equity Other Capital $222.89 $222.89 ----- QoQ = (8.41)% QoQ = (8.15)% QoQ = (100.00)% YoY = (14.72)% YoY = (12.84)% QoQ = (100.00)% ($ million) PORTFOLIO INVESTMENT Portfolio Money market Investment Equity Bonds instruments $4,292.89 $496.84 $316.28 $3,479.77 QoQ = (39.93)% QoQ = (24.28)% QoQ = (44.09)% QoQ = (41.26)% YoY = 4.21% YoY = (52.61)% YoY = (20.96)% YoY = 30.28% 2 Nigerian Capital Importation - Q2 2019 NIGERIAN CAPITAL IMPORTATION – Q2 2019 Capital Importation by Type of Investment – Q2 ($ million) Q2 2019 OTHER INVESTMENT Other Investment Trade credits Loans Currency deposits Other claims $1,304.43 $0.11 $890.96 ----- $413.37 QoQ = 19.00% QoQ = ----- QoQ = 18.43% QoQ = ----- QoQ = 20.21% YoY = 15.16% YoY = ----- YoY = (20.57)% YoY = ----- YoY = 3,629.39% ($ million) TOTAL $5,820.21 QoQ = (31.41)% YoY = 5.56% 3 Nigerian Capital Importation - Q2 2019 NIGERIAN CAPITAL IMPORTATION – Q2 2019 Q1 2017 to Q2 2019 2017 Q1 Q2 Q3 Q4 TOTAL FOREIGN DIRECT INVESTMENT $211.38 $274.37 $117.60 $378.41 $981.75 Equity $210.1 $274.07 $117.47 $377.8 $979.44 Other Capital $1.28 $0.30 $0.13 $0.61 $2.32 PORTFOLIO INVESTMENT $313.61 $770.51 $2,767.42 $ 3,477.53 $7,329.06 Equity $101.99 $614.05 $1,932.07 $989.2 $3,637.31 Bonds ----- $57.87 $115.43 $309.54 $482.84 Money Market Instruments $211.61 $98.59 $719.91 $2,178.79 $3,208.90 OTHER INVESTMENT $383.28 $747.47 $1,260.08 $1,526.92 $3,917.75 Trade Credits ----- ----- ----- $10.00 $10.00 Loans $369.28 $747.47 $956.69 $1,091.20 $3,164.63 Currency Deposits $3 ----- $0.52 $0 $3.52 other Claims $11 ----- $302.88 $425.72 $739.60 TOTAL $908.27 $1,792.34 $4,145.10 $5,382.86 $12,228.57 4 Nigerian Capital Importation - Q2 2019 NIGERIAN CAPITAL IMPORTATION – Q2 2019 Q1 2017 to Q2 2019 2018 Q1 Q2 Q3 Q4 TOTAL FOREIGN DIRECT INVESTMENT $246.62 $261.35 $530.63 $156.08 $1,194.67 Equity $246.61 $255.71 $530.63 $156.08 $1,189.03 Other Capital $0.005 $5.63 ----- ----- $5.64 PORTFOLIO INVESTMENT $4,565.09 $4,119.46 $1,723.05 $1,394.68 $11,802.27 Equity $701.61 $1,048.39 $394.47 $218.27 $2,362.73 Bonds $335.88 $400.14 $37.48 $193.33 $966.82 Money Market Instruments $3,527.60 $2,670.93 $1,291.10 $983.08 $8,472.72 OTHER INVESTMENT $1,491.93 $1,132.75 $601.53 $589.32 $3,815.53 Trade Credits ----- ----- $6.29 $0.63 $6.92 Loans $1,268.44 $1,121.66 $561.24 $571.48 $3,522.83 Currency Deposits ----- ----- ----- $1.03 $1.03 other Claims $223.49 $11.08 $34.00 $16.18 $284.75 TOTAL $6,303.63 $5,513.55 $2,855.21 $2,140.08 $16,812.47 5 Nigerian Capital Importation - Q2 2019 NIGERIAN CAPITAL IMPORTATION – Q2 2019 Q1 2017 to Q2 2019 2019 Q1 Q2 Half Year FOREIGN DIRECT INVESTMENT $243.36 $222.89 $466.25 Equity $242.67 $222.89 $465.55 Other Capital $0.70 ----- $0.70 PORTFOLIO INVESTMENT $7,145.98 $4,292.89 $11,438.87 Equity $656.19 $496.84 $1,153.03 Bonds $565.65 $316.28 $881.93 Money Market Instruments $5,924.13 $3,479.77 $9,403.90 OTHER INVESTMENT $1,096.15 $1,304.43 $2,400.58 Trade Credits ----- $0.11 $0.11 Loans $752.29 $890.96 $1,643.25 Currency Deposits ----- ----- ----- other Claims $343.86 $413.37 $757.23 TOTAL $8,485.49 $5,820.21 $14,305.71 6 Nigerian Capital Importation - Q2 2019 NIGERIAN CAPITAL IMPORTATION – Q2 2019 Q1 2017 to Q2 2019 QonQ YonY FOREIGN DIRECT INVESTMENT (8.41)% (14.72)% Equity (8.15)% (12.84)% Other Capital (100.00)% (100.00)% PORTFOLIO INVESTMENT (39.93)% 4.21% Equity (24.28)% (52.61)% Bonds (44.09)% (20.96)% Money Market Instruments (41.26)% 30.28% OTHER INVESTMENT 19.00% 15.16% Trade Credits ----- ----- Loans 18.43% (20.57)% Currency Deposits ----- ----- other Claims 20.21% 3,629.39% TOTAL (31.41)% 5.56% 7 Nigerian Capital Importation - Q2 2019 NIGERIAN CAPITAL IMPORTATION – Q2 2019 Capital Importation by Sector – Q2 ($ million) ($ million) ($ million) Shares I T Services Brewering $1,119.91 $6.22 ----- Servicing Oil And Gas Hotels $437.09 $30.05 $26.50 Banking Electrical Drilling $1,892.50 $10.81 ----- Production Transport Fishing $180.61 $3.43 $64.41 Financing Construction Marketing $1,652.45 $13.38 $0.03 Agriculture Telecomms Tanning $169.37 $4.50 ----- Trading Consultancy Weaving $207.90 $1.05 ----- TOTAL $5,820.21 8 Nigerian Capital Importation - Q2 2019 NIGERIAN CAPITAL IMPORTATION – Q2 2019 Capital Importation by Destination – Q2 Destination Of Investment ABIA ABUJA (FCT) ADAMAWA AKWA IBOM $0 $1,672.63 ----- ----- ANAMBRA BAUCHI BAYELSA BENUE $0.11 ----- ----- ----- BORNO CROSS RIVER DELTA EBONYI ----- ----- ----- ----- EDO EKITI ENUGU GOMBE $1.04 ----- ----- ----- IMO JIGAWA KADUNA KANO ----- ----- $1.97 $0.10 9 Nigerian Capital Importation - Q2 2019 NIGERIAN CAPITAL IMPORTATION – Q2 2019 Capital Importation by Destination – Q2 Destination Of Investment KATSINA KEBBI KOGI KWARA ----- ----- ----- ----- LAGOS NASARAWA NIGER OGUN $4,137.66 $0.10 ----- $4.80 ONDO OSUN OYO PLATEAU ----- ----- $1.78 ----- RIVERS SOKOTO TARABA YOBE $0.03 ----- ----- ----- ZAMFARA TOTAL ----- $5,820.21 10 Nigerian Capital Importation - Q2 2019 NIGERIAN CAPITAL IMPORTATION – Q2 2019 Capital Importation by Bank – Q2 CORONATION ACCESS BANK PLC CITIBANK NIGERIA LIMITED MERCHANT BANK DIAMOND BANK PLC ECOBANK NIGERIA LTD $160.71 $1,017.02 $413.36 ----- $485.42 FSDH MERCHANT FIRST CITY FBN MERCHANT BANK BANK LIMITED FIDELITY BANK FIRST BANK MONUMENT BANK PLC $116.92 $29.00 $133.45 $213.00 $49.40 HERITAGE BANKING GUARANTY TRUST BANK PLC COMPANY LIMITED JAIZ BANK PLC KEYSTONE BANK LIMITED PROVIDUS BANK $76.85 ----- ----- $0.11 ----- STANDARD CHARTERED RAND MERCHANT BANK POLARIS BANK LIMITED STANBIC IBTC BANK PLC BANK NIGERIA LIMITED STERLING BANK $611.70 $0.50 $1,765.64 $327.95 $17.97 SUNTRUST BANK UNION BANK OF UNITED BANK FOR NIGERIA LTD NIGERIA PLC AFRICA PLC UNITY BANK PLC WEMA BANK PLC ----- $51.07 $288.47 ----- $1.54 ZENITH BANK PLC TOTAL $0 $60.14 $5,820.21 11 Nigerian Capital Importation - Q2 2019 NIGERIAN CAPITAL IMPORTATION – Q2 2019 Capital Importation by Country of Origin Top Ten Highest Top Ten Lowest United $3,134.47 Canada $0.01 Kingdom United States $1,150.82 Romania $0.02 UAE $343.59 Malta $0.05 South Africa $314.16 Spain $0.08 Belgium $207.85 Australia $0.11 Singapore $165.72 Finland $0.15 Mauritius $130.42 Bahrain $0.20 Netherlands $93.44 Italy $0.27 Nigeria $51.57 Israel $0.35 Luxembourg $46.03 Japan $0.47 12 Nigerian Capital Importation - Q2 2019 NIGERIAN CAPITAL IMPORTATION – Q2 2019 Capital Importation by Country of Origin S/N0 COUNTRY OF ORIGIN Q2 2019 1 Afghanistan - 2 Andorra - 3 Anguilla 2.00 4 Australia 0.11 5 Austria - 6 Bahamas - 7 Bahrain 0.20 8 Barbados - 9 Belgium 207.85 10 Benin - 11 Bermuda 1.70 12 Botswana - 13 Bouvet Island 17.08 14 Brazil - 15 British Virgin Islands 26.17 16 Brunei Darussalam - 17 Bulgaria - 18 Canada 0.01 19 Cameroon - 20 Cayman Islands 0.75 21 China 0.84 22 Congo - 23 Cote d'Ivoire - 24 Cyprus 2.50 25 Czech Republic - 26 Denmark - 27 Djibouti - 28 Egypt - 29 Finland 0.15 30 France 26.04 31 Gambia - 32 Gabon - 33 Germany 2.84 34 Gibraltar - 35 Guinea - 36 Ghana 0.00 37 Greece 1.45 38 Hong Kong 12.61 39 Hungary - 40 India 0.93 41 Indonesia - 42 Ireland - 43 Isle of Man 2.75 44 Israel 0.35 45 Italy 0.27 46 Jamaica - 47 Japan 0.47 48 Kenya 5.11 49 Kiribati - 50 Korea, Republic of - 13 Nigerian Capital Importation - Q2 2019 NIGERIAN CAPITAL IMPORTATION – Q2 2019 Capital Importation by Country of Origin 51 Kuwait - 52 Latvia - 53 Lebanon 1.16 54 Liberia - 55 Liechtenstein - 56 Luxembourg 46.03 57 Malaysia - 58 Malta 0.05 59 Marshall Islands 1.99 60 Mauritania - 61 Mauritius 130.42 62 Mexico - 63 Morocco 1.34 64 Mozambique - 65 Netherlands 93.44 66 Netherlands Antilles - 67 New Zealand - 68 Nigeria 51.57 69 Norway 2.77 70 Panama - 71 Pitcairn - 72 Poland - 73 Portugal - 74 Puerto Rico - 75 Qatar - 76 Republic of South Africa 314.16