Aviation contributes N48.8bn to GDP
Nigeria’s Capital Importation portfolio valued at about $40.4 billion between 2012 and February 2014, according to the National Bureau of Statistics (NBS).
According to the data released Tuesday, portfolio investments in equity accounted for about $28.2 billion while revenue from bonds issuance stood at about $2.2 billion in the period under review.
The Foreign Direct Investment (FDI) portfolio in equity was valued at about $3.1 billon while FDI in other capital stood at about $96.5 million.
In addition, portfolio investment in money market instruments stood at $2.98 billion.
Meanwhile, the aviation sector of the economy accounted for N48.8 billion of the rebased nominal Gross Domestic Product (GDP) in 2013, according to the National Bureau of Statistics (NBS).
The figure represented an average of 4.8 per cent of transport and storage sector as well as an average of 0.05 per cent of total nominal GDP during the period in 2013.
The sector also accounted for N32.6 billion, N36.6 billion and N42.7 billion of GDP in 2010, 2011 and 2012 respectively.
The sector grew at an average growth rate of 14.3 per cent between 2010 and 2013 while about 50 per cent of average total passenger air travel between 2012 and 2013 were recorded at the Lagos airports (domestic and international).
The NBS further noted that about 25 per cent of passenger travels were through the Abuja airports.
According to the Domestic Air Passenger Traffic- January 2012 to December 2013 which was released yesterday, altogether, Lagos and Abuja airports accounted for over 75 per cent of total air passenger travel for both 2012 and 2013.