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Nigeria’s Capital Importation Drops By N1.68trn …As Hope Lies On CBN For Remedy

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3 years ago

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Indications are rife that foreign investors may have boycotted Nigerian market following a drop in  capital importation by $4.08 billionn (N1.68 trillion) in one year.
Statistical data from the Nigerian Bureau of Statistics (NBS) have shown that between January and September 2020, total capital importation amounted to $8.55 billion.
The latest capital importation report by the NBS, during the same period in 2021 foreign capital inflows into the country, fell by $4.08 billion (N1.68 trillion)
A breakdown of the 2020 figures shows that in the first quarter of 2020, capital importation into Nigeria stood at $5.85 billion, representing an increase of 53.97 per cent compared to Q4 2019.
During this period, Foreign Portfolio Investment contributed the largest amount to capital inflows, accounting for $4.31 billion or 73.61 per cent of the total capital importation, followed by ‘other investments’, which accounted for $1.33 billion or 22.73 per cent; then the Foreign Direct Investment which accounted for 3.66 per cent or $214.25 million.
In terms of sectors, the banking industry led the chart by contributing $2.99 billion to the total capital importation in Q1 2020.
In the second quarter of 2020, the aggregate capital inflow fell by  $1.29 billion when compared to the preceding quarter
According to the bureau, ‘other investments’ accounted for 43.75 per cent ($639.44 million) of the total capital importation, while the FDI and the FPI contributed $414.79 million and $407.25 million, respectively.
Further analysis showed that in Q1 2021, the total value of capital importation was $1.90bn, which represented a decline of $3.95bn when compared to the same quarter in 2020.
Capital importation, however, declined to $875.62 million in Q2 2021, representing a decrease of $415 million compared to the $1.29 bllion recorded in Q2 2020.
”The largest amount of capital importation by type was received through portfolio investment, which accounted for 62.97 per cent ($551.37 million) of total capital importation, followed by other investments, which accounted for 28.13 per cent ($246.27 million) of total capital imported and the FDI, which accounted for 8.90 per cent ($77.97 million) of total capital imported in Q2 2021.”
In Q3 2021, capital inflows rose by over 97 per cent to $1.73 billion in Q3 2021 (quarter-on-quarter), and by 18.47 per cent (year-on-year).
Portfolio investment, which accounted for $1,217 billion was the major driver of capital inflow in Q3, followed by other investments which accounted for $406.35m while the FDI amounted to $107.81 million.
However, there is hope that the efforts of the Central Bank of Nigeria to meet FX demands and clear arrears would incentivize portfolio investors to return to the Nigerian market.

By: Corlins Walter

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NPA Assures On Staff Welfare 

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5 days ago

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June 27, 2025

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The Managing Director, Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho, has said the management will continue to accompany its port infrastructure  and equipment  modernization drive  with the development of the welfare of its personnel.
Dantsoho made the disclosure recently while responding to the commendation by the Maritime Workers Union (MWUN) and the senior Staff Association of Statutory Corporations and Government-Owned Companies (SSASGOC) on the  clearing  of the age-long problem of employee stagnation, when the union paid him a courtesy visit at the Authority’s headquarters in Lagos.
A Statement by NPA’s General Manager Corporate & Strategic Communications, Mr. Ikechukwu Onyemekara, quoted Dantsoho as saying,  “our Port infrastructure and equipment modernization drive will go hand-in-hand with continuous staff welfare improvement”.
The NPA MD disclosed that human capital development constitutes the key strategy for creating and sustaining superior performance under his watch, adding that “talent development constitutes a critical success factor for the actualization of the big hairy audacious goals we have set for ourselves especially in the area of Port competitiveness.
“The only way we can meet and indeed exceed stakeholders’ expectations is to deepen the competencies of our human resources assets and boosting their morale.”
Speaking further, Dantsoho commended the Honourable Minister of Marine & Blue Economy, Adegboyega Oyetola, for approving the strategic proposal of the Dantsoho-led Management team that solved the over a decade-long problem of lack of promotion that had fuelled industrial disharmony.
“I must specially appreciate our amiable Minister for graciously approving the multi-pronged stratagem we deployed that cleared all outstanding cases of employee stagnation by conducting examinations in one fell swoop and instituted timelines to forestall a recurrence of such anomaly”, he sad.
Speaking on behalf of the joint maritime labour unions, the President  of Senior Staff Association of Statutory Corporations & Government-Owned Companies (SSASCGOC), Comrade Bodunde stated, “In addition to clearance of the backlog of stagnated promotions, we also wish to express our appreciation for the increase in productivity bonuses, provision of end-of-year welfare packages for staff, and the revision of the Financial Guide to the Condition of Service, which now addresses our members’ concerns about inflationary pressures.”
Nkpemenyie Mcdominic, Lagos
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ANLCA Chieftain Emerges FELCBA’s VP

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5 days ago

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June 27, 2025

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National Secretary of the Association of Nigerian Licensed Customs Agents (ANLCA), Elder Olumide Fakanlu, has been elected Vice President of the Federation of ECOWAS Licensed Customs Brokers Association (FELCBA).
The election took place during the FELCBA Congress, held from Tuesday, June 17th to Thursday, June 19th, 2025, in Freetown, Sierra Leone.
Fakanlu’s emergence as Vice President marks a significant achievement for Nigeria within the regional customs brokerage community.
Apart from Fakanlu, Secretary of the Seme Chapter of ANLCA, Austin Nwosu, was also elected, securing the role of Secretary of Relations with Institutions.
The Nigerian delegation played an active role in the congress, with Michael Ebeatu nominated as a member of the electoral officer team, ensuring a fair and transparent election process.
The three-day congress concluded with delegates undertaking a visit to the Sierra Leone Port, offering insights into the host nation’s maritime operations, followed by a recreational trip to the Tokeh Beach.
The newly elected executives are expected to lead FELCBA in its efforts to harmonize customs brokerage practices, promote trade facilitation, and advocate for the interests of licensed customs brokers across the ECOWAS sub-region.
Nkpemenyie Mcdominic, Lagos
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NSC, Police Boost Partnership On Port Enforcement 

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5 days ago

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June 27, 2025

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In a bid to enhance more enforcement in the nation’s Port, the Nigerian Shippers’ Council (NSC) has reaffirmed its commitment to stronger inter-agency collaboration with the Nigeria Police Force (NPF).
The Council said the collaboration is aimed at enhancing stronger enforcement, compliance and improve operational efficiency across Nigeria’s ports.
Executive Secretary/Chief Executive Officer of  NSC, Dr. Pius Akutah, made this known during a visit to the  Inspector-General of Police, Dr. Kayode Adeolu Egbetokun, at the Force Headquarters, Abuja.
The visit, which he said, focused on strengthening institutional synergy, comes in the wake of growing responsibilities for the NSC under the newly created Ministry of Marine and Blue Economy.
Akutah emphasized the critical role of security agencies in supporting port operations and ensuring regulatory compliance.
He called for the posting of police officers to assist the Council’s monitoring and enforcement teams at key port locations including Lagos, Warri, Onne, Port Harcourt, and Calabar.
“The posting will complement the activities of our revived task teams and enhance our ability to enforce standards across the maritime logistics chain”, he said.
Earlier, the Inspector-General of Police, Dr. Egbetokun, assured the Council of the Force’s readiness to continue supporting the growth of the maritime sector.
The IGP acknowledged that compliance enforcement is essential to the successful implementation of Nigeria’s Blue Economy objectives.
“The NSC and NPF are expected to deepen collaboration in the months ahead, with a shared focus on building a secure, efficient, and competitive port environment”, to the IGP emphasized.
Chinedu Wosu
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