The total inflow of foreign capital to Nigeria fell 3.9% y/y to $4.5bn in the fourth quarter of 2014, following a 48% y/y surge in the preceding quarter, data from the country’s National Bureau of Statistics (NBS) showed. On a quarterly comparison basis, Q4’s capital importation shrank 31.2% after a 12.7% growth in Q3.

For full 2014, total foreign investment reached $20.75bn, by 2.7% below the level for 2013.

Portfolio investment accounted for the biggest part of the total foreign capital inflow in Q4 with a 44.5% share, sharply down from 78.4% in Q3. It plunged 61% q/q and 41% y/y to $2bn.

Next, ‘other’ investments reached $1.73bn in Q4, up 100% q/q and 48% y/y. Their share from the total rose to 38.4% from 13.3% in Q3.

Foreign direct investment (FDI) rose 41% q/q and 531% y/y to $768.9mn in Q4. Its share from the total rose to 17.1% from 8.3% in Q3.

Despite a 33% quarterly drop, the UK remained the biggest investor in Nigeria, contributing $1.95bn, or 43.2%, of the total foreign capital inflow in Q4. It was followed by the US, which provided $1.07bn (23.9% of the total), down 4.8% q/q. Significant contributions came from Saudi Arabia ($435.5mn, 9.7% of the total) and Egypt ($282.1mn, 6.3% of the total).

Among other bigger foreign investors, Hong Kong ranked fifth with $133mn (3% of the total), followed by the Netherlands with $116.7mn (2.6%), Mauritius with $99.1mn (2.2%), and Belgium with $80mn (1.8%).